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BP confirms talks to sell key North Sea oil pipeline to Ineos

The two companies are in talks about a potential sale of a key piece of North Sea oil infrastructure, which transports up to 450,000 barrels a day.

Photo: CARSTEN INGEMANN

BP Plc is in talks with Ineos AG to sell the Forties pipeline, one of the most important pieces of oil infrastructure in the U.K. North Sea.

The two companies confirmed the discussions, but declined to comment on the potential value of the deal or provide a time frame. The pipeline system transports 450,000 barrels a day, comprising about 40 percent of the U.K.’s total oil production and the largest constituent of Dated Brent, the international crude benchmark.

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