Press

Tanker Collision Shuts in 365,000 bpd of Norwegian Oil Output

Posted by OilVoice Press - OilVoice

09-Nov-2018


The Sture oil terminal in western Norway was shut down and evacuated early this morning (November 8) after a Maltese oil tanker and a Norwegian military frigate collided in this key North Sea oil port at 4am local time. Rystad Energy anticipates that approximately 365,000 bpd of oil production will be shut in for several days before the terminal is again ready to receive oil piped from offshore fields in the Norwegian sector of the North Sea.

The frigate Helge Ingstad sustained severe damage in the collision, which occurred only about 15 minutes after the tanker TS Sola, carrying approximately 600,000 barrels of oil, set sail under tow from Equinor's Sture terminal. The frigate moved to an inshore location and was listing heavily at 11:30am, amidst emergency efforts to prevent the vessel from sinking.

The Sture oil terminal, which has about 6 million barrels of underground oil storage capacity, is the receiving terminal for Oseberg Blend (105,000 bpd impacted) and Grane Blend (260,000 bpd impacted). The largest contributors to Grane Blend are the Grane, Ivar Aasen and Edvard Grieg oil fields. Rystad Energy estimates that production from affected fields will be impacted for five to seven days. The infrastructure at the terminal itself has not been affected and the shut-down appears to be precautionary. Nevertheless, the outage will likely reduce the daily average production of Oseberg Blend and Grane Blend in November 2018 by approximately 85,000 bpd.

Per Magnus Nyvseen, Head of Analysis at Rystad Energy, expects two to three cargoes to be delayed from Sture, causing only a brief upwards impact on Brent prices. “The risk of prolonged shut-down and delayed resumption of operations is deemed to be low, although oil markets will face difficulty replacing Grane heavy oil blend during November,” Nysveen said.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Rystad EnergytankerNowayOffshoreStureSture TerminalOutputProdictionNorth Sea

More items from oilvoice


Cyber Security Experts Unite to Protect Europe’s Critical Industries

CS4CA Summit Returns to London this October Staying abreast of fast-paced industry developments is crucial for cyber security professionals. And while one can learn a lot from publications and social media, it's hard to beat the value of insights gained first-hand from peers. This is why 150+ IT ...

OilVoice Press - OilVoice


Posted 1 month agoPress > cybereurope

Africa E&P Summit

The organisers of the Africa E&P Summit are bringing together Africa's leading exploration companies and governments, just one of the many reasons why you should be attending frontier's event that they are organising and hosting in London at the IET: Savoy Place, 22-23 May. Over 200 key senior exec ...

OilVoice Press - OilVoice


Posted 5 months agoPress > Africasummitoil summit +2

Equinor Deepens in Offshore Wind in Poland

Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018 , by which Equinor acquired a 50 % inter ...

OilVoice Press - OilVoice


Posted 9 months agoPress > EquinorEquinor EnergyPoland +2

Nigeria has highest capex on crude and natural gas projects in sub-Saharan Africa Over Next Seven Years, says GlobalData

Nigeria accounts for more than 34% of the proposed capital expenditure (capex) on planned and announced crude and natural gas projects in the sub-Saharan Africa over the period 2018–2025, according to GlobalData , a leading data and analytics company. The company's report: ‘H2 2018 Production ...

OilVoice Press - OilVoice


Posted 9 months agoOpinion > GlobalDataNigeriaCrude +5

CNOOC Signs Strategic Cooperation Agreements with 9 International Oil Companies

HONG KONG, Dec. 18, 2018 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE: CEO, TSX: CNU) announced today that its parent company, China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, Conoco ...

OilVoice Press - OilVoice


Posted 9 months agoPress > CNOOCChina National Offshore Oil CorporationChevron +11
All posts from oilvoice