Those frustrated frackers, Ineos, do something useful for Scotland

forties_pipeline

(c) pgjonline.com

[Kinneil is in Grangemouth or maybe it’s just in next-door Bo’ness]

Reported in Oil & Gas, yesterday, Ineos have paid $250 million for BP’s ‘interests’ in the Forties pipeline system and as a consequence they will be helping in maximizing the recovery of the UK’s remaining hydrocarbon resource and the new business opportunities they will open up for the oil and gas supply chain will be very welcome.’

It seems that integrating the Ineos plant at Grangemouth with the pipeline will help create new opportunities for further development in the North Sea. This is all very positive-sounding if a little vague at this stage but it does look potentially fruitful for Grangemouth’s refinery and thus for jobs and wealth creation there and in the Central Belt more generally. Maybe, it is part of a recognition by Ineos that they won’t be growing by fracking in Scotland and so must get in on the Third Wave of wealth generation coming from the North Sea. See:

The North Sea’s Third Wave of Wealth Generation: Further evidence from BP as they start production from ‘one of the largest field redevelopments in North Sea history’

New technology to extend life of North Sea oilfields. Reports of its death have been greatly exaggerated

An Edinburgh University Professor says North Sea oil and gas has only ten years left while the Wall Street Journal describes it as an ‘oil hot spot’ and Oil and Gas UK doesn’t recognise his figures. Who’s right?

https://www.oilandgaspeople.com/news/15455/oil-and-gas-uk-welcomes-multi-billion-dollar-north-sea-deals/

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2 thoughts on “Those frustrated frackers, Ineos, do something useful for Scotland

  1. Alasdair Macdonald November 5, 2017 / 10:37 am

    Concerns re carbon based fuels notwithstanding, I think this gives the lie to a couple of unionist attack lines which are repeated like the shorter catechism by the MSM – North Sea is nearing ‘the end’, and if Scotland becomes independent and does ‘politically correct things’ like banning fracking then large companies will go elsewhere.

    Like

    • johnrobertson834 November 5, 2017 / 11:02 am

      I certainly does. Self-centred egotistical psychopaths don’t get in unless they think they can exploit

      Like

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