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Production Halted At 2 North Sea Platforms After Main Pipeline Shutdown

Fun Trading: 18 Dec 2017

Summary

  • Shell announced that production from the Shearwater and Nelson platforms in the central North Sea had been suspended due to Forties pipeline shutdown.
  • Forties pipeline is a vital artery of the North Sea production. Production loss is estimated at about 400K Boep/d which is significant and may boost oil prices for weeks.
  • This situation could be considered as a net positive for Shell and other oil majors.

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