Author Topic: OIL CLIMBS ON UK PIPELINE FEARS  (Read 3271 times)

Offline furtune

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OIL CLIMBS ON UK PIPELINE FEARS
« on: April 26, 2008, 10:53:47 AM »
Oil prices rose above $119 a barrel as oil giant BP prepared to shut down a key North Sea pipeline and a strike at Exxon in Nigeria disrupted production.

BP's Forties pipeline, which provides a third of the UK's daily oil output, will close if a two-day strike by refinery workers goes ahead.

US light crude rose $3.15 to $119.21 a barrel, but later settled at $118.52. London Brent crude settled at $116.34.

Rebels in Nigeria also claimed another attack on a Royal Dutch Shell pipeline.

The Movement for the Emancipation of the Niger Delta has repeatedly tried to sabotage Shell's production in recent weeks.

A strike by workers at Exxon Mobil, Nigeria's biggest foreign oil producer, has further disrupted production in the African country. It said it had been forced to halt its output of crude oil, estimated at 200,000 barrels per day.

Oil had hit a record high of $119.90 a barrel on Tuesday.

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OIL CLIMBS ON UK PIPELINE FEARS
« on: April 26, 2008, 10:53:47 AM »

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Offline Prince

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Re: OIL CLIMBS ON UK PIPELINE FEARS
« Reply #1 on: April 26, 2008, 12:35:56 PM »
It's time to go back to the days of horses and camel.

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Re: OIL CLIMBS ON UK PIPELINE FEARS
« Reply #1 on: April 26, 2008, 12:35:56 PM »

 

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