Gulf Oil and Gas accountACCOUNT

Major Concerns over Possible Forties Pipeline Sale to Ineos

Source: www.gulfoilandgas.com 3/17/2017, Location: Europe

Share |
Unite the union has expressed serious concerns over the possible sale of the Forties Pipeline System from BP to Ineos. Unite was involved in two major disputes with Ineos over the treatment of workers at the Grangemouth refinery in 2008 and 2013. During the second dispute, the company – owned by billionaire Jim Ratcliffe – threatened to close the facility forever. The union is now to seek an urgent meeting with Ineos to discuss the possible sale.

Unite Scottish secretary Pat Rafferty said: Unite Scottish secretary Pat Rafferty said: “Our members at BP will have major concerns about the possibility of becoming employees of Ineos, a company with a clear history of attacking our members’ pensions, as well as their terms and conditions, in order to maximise profit. If a sale does go ahead, we will fight to protect our members in every way we can, and Ineos should work with us to allay their fears. “There is also a wider issue of economic power. The Forties Pipeline System carries a massive amount of the UK’s oil. Grangemouth is the one of the country’s major refineries. Both of these pieces of vital national infrastructure could soon be effectively in the hands of one man. That is an incredible amount of power.

“It’s not so long ago that both Grangemouth and the Forties pipeline were owned by all of us, and operated by a nationalised British Petroleum with a responsibility to look at what was good for the country as a whole, not just what was good for a small group of wealthy individuals. “We need a national debate now. Do our politicians believe in an economy where power is widely held and used for the benefit of us all, or are they happy with power in the hands of a tiny minority whose biggest concern is their own personal benefit?

“Is it right, or sensible, to give the power to turn off the taps - and bring the entire country to a standstill - to one private company, without any democratic involvement or oversight? “Unite doesn’t believe that is good for workers or good for the country. Our members will be listening closely to the views of our governments both at Westminster and Holyrood.”

Acquisitions and Divestitures News in United Kingdom >>

United Kingdom >>  3/23/2017 - Statoil was awarded six UK licenses, five as operator and one as partner, in the 29th Offshore Licensing Round, announced by the Oil and Gas Authority...
United States >>  3/23/2017 - Statoil resets its exploration in the Gulf of Mexico and was today deemed high bidder on 13 leases in the 2017 Central Lease Sale. Statoil successfull...

Ivory Coast (Cote D'Ivoire) >>  3/22/2017 - Eni has obtained majority stakes in two new exploration blocks off the shore of the Ivory Coast. The two blocks are located approximately 50 km from t...
South Africa >>  3/22/2017 - China's Sinopec will pay almost $1 billion for a 75 percent stake in Chevron Corp's South African assets and its subsidiary in Botswana to secure its ...

United Kingdom >>  3/22/2017 - RockRose Energy announced on 22nd December 2016 that it had signed sale and purchase agreements with Maersk Oil North Sea UK to acquire its non-operat...
United States >>  3/22/2017 - Gastar Exploration Inc. (Gastar) has completed the acquisition of additional working and net revenue interests in approximately 66 gross (9.5 net) pro...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 |

More News

 

Oil & Gas Companies in United Kingdom >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.