Ineos Force Majeure

[Rodent + 1,424]

Ineos declared, in a not so surprising development, a force majeure on ioil from its Forties pipeline 

[Stephen + 67]

London's rule over the Scots looks doomed

[JohnAtronis + 78]

21 minutes ago, Rodent said:

Ineos declared, in a not so surprising development, a force majeure on ioil from its Forties pipeline 

Well, the offshore part was replaced back in 1985/6 if my memory serves me right.

[Meanwhile + 49]

1 minute ago, JohnAtronis said:

Well, the offshore part was replaced back in 1985/6 if my memory serves me right.

But still, it is impressive that such a tiny undersea defect can be identified well before a leak and also that it can probably be fixed in two weeks or so. Go technology

[Rodent + 1,424]

Talk about a lemon. They just bought the dang thing. I wonder if there is a lemon clause for pipelines?

[Meanwhile + 49]

1 minute ago, Rodent said:

Talk about a lemon. They just bought the dang thing. I wonder if there is a lemon clause for pipelines?

In April, BP sold its North Sea Pipeline to Ineous for around £250 million. It sounds as if BP got a great deal, and Ineous inherited old technology

[Meanwhile + 49]

One also wonders what contingency plans the Scottish Government has in place

[JohnAtronis + 78]

3 minutes ago, Meanwhile said:

One also wonders what contingency plans the Scottish Government has in place

I guess none, but this number is impressive. The shutdown of one of the UK's most important oil pipelines is worth about £20m a day

[Stephen + 67]

who owns Ineous? The government doesn't have any shares there, right?

[Joanna + 68]

1 minute ago, Stephen said:

who owns Ineous? The government doesn't have any shares there, right?

no, it is in private hands. Here is good link on him

http://www.dailyrecord.co.uk/news/scottish-news/fury-billionaire-jim-ratcliffe-bringing-10041113

[Meanwhile + 49]

this is from last week, I think

Ineos, the privately held petrochemicals giant run by the billionaire Jim Ratcliffe, is seeking to bypass local councils by using controversial new rules to fast-track plans to drill for shale gas in the Midlands without their planning approval. One of the world’s ten biggest chemical companies, Ineos is taking the lead in the development of Britain’s shale gas industry.

[Stephen + 67]

27 minutes ago, Meanwhile said:

this is from last week, I think

Ineos, the privately held petrochemicals giant run by the billionaire Jim Ratcliffe, is seeking to bypass local councils by using controversial new rules to fast-track plans to drill for shale gas in the Midlands without their planning approval. One of the world’s ten biggest chemical companies, Ineos is taking the lead in the development of Britain’s shale gas industry.

For Ratcliffe, fracking is safer and cheaper