BP shutting down major British oil pipeline ahead of strike


Energy giant British Petroleum (BP) was shutting down a pipeline carrying nearly half of Britain's oil late Saturday ahead of a 48-hour strike over pension issues.

The pipeline carries an average of 700,000 barrels per day, nearly half the country's daily output of 1.5 million barrels. One-fifth of Britain's gas supply also relies on the Fortis system.

About 1,200 workers at the Grangemouth oil refinery in central Scotland planned to start the strike on Sunday over pension issues, one of a series of labor disputes to hit Britain as the global economy weakens.

The planned strike has already led to the closure of a major refinery and has prompted some panic fuel buying. And it is the first to close a British refinery in more than 70 years.

Industry lobby group Oil & Gas UK called on the government to intervene in the issue.

The strike is now affecting some 80 companies and their operations which are in no way connected to or involved in this dispute, the group said.

The government said there will be no overall shortage of fuel but accepts that there may be some local supply problems.

“There is plenty of petrol and diesel in Scotland to meet demand during this period of time, but of course there is going to be challenge if people change the way that they consume fuel,” British Energy Secretary John Hutton said.

Talks to resolve the dispute collapsed earlier this week. Prime Minister Gordon Brown said that the strike was unnecessary and called for new negotiations. (Xinhua)


Gen Gov't Finishes January Close to HUF 144 bln in the Red Debt

Gen Gov't Finishes January Close to HUF 144 bln in the Red

IMF Urges Hungarian Authorities to Carry out Structural Refo... Government

IMF Urges Hungarian Authorities to Carry out Structural Refo...

Futureal Integrates Commercial Development, Asset Management... Residential

Futureal Integrates Commercial Development, Asset Management...

Nyugati Renovation Continuing City

Nyugati Renovation Continuing


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.