Bloomberg News

BP to Shut Hound Point VLCC Jetty in U.K. for Repairs in August

January 31, 2012

Jan. 31 (Bloomberg) -- BP Plc, which operates the Forties Pipeline System, plans in August to close the larger of two jetties at Hound Point in Scotland, the loading terminal for the North Sea crude grade.

No. 1 jetty, the quay at the terminal that handles supertankers, will shut for three weeks of repairs that month, BP said on its website. Both jetties at Hound Point will close this year for a week of repairs, the company said, without specifying when that work would start.

BP plans to install a new loading arm at the No. 2 jetty over an estimated four-month period, according to the website. Loadings will be suspended during the installation, it said, without saying when it would take place.

Forties crude is one of the four North Sea grades used to price Dated Brent, the benchmark for more than half of global oil supply. The others are Brent, Oseberg and Ekofisk. A supertanker, also known as a Very Large Crude Carrier or VLCC, typically holds 2 million barrels of oil.

--Editors: Rachel Graham, Alessandro Vitelli

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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