BP Confirms - Grangemouth Strike Could Shut In 700,000 B/D From Forties Pipeline Network - CNN

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LONDON, Apr. 22, 2008 (Thomson Financial delivered by Newstex) -- The looming strike at the Ineos Grangemouth refinery in Scotland could reduce North Sea crude output by as much as 700,000 barrels per day (bpd), a British Petroleum spokesman said on Tuesday. Ineos has started a staged shut-down of the refinery, ahead of a planned two-day workers' strike over pensions currently due to begin this Sunday.

A full-shut down of the refinery would mean the closure of the BP (NYSE:BP) (TSX:BP'U) owned Forties Pipeline System, which carries 700,000 bpd of North Sea crude oil to the United Kingdom through the Ineos plant.

'A full Ineos Grangemouth shut-down would impact essential services which are required to operate the Forties Pipeline System,' said BP spokesman Richard Grant in Aberdeen, adding that the complete closure of the pipeline remained a possibility.

'We are in ongoing discussions with Ineos to assess the situation.'
Ineos started a staged shut-down on Monday in anticipation of the planned strike, but it is believed that a 'point of no return' will not be reached until Wednesday or Thursday when the plant will prepare to completely halt production.

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http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-24688270.htm