BP to Restrict VLCC Access at Hound Point Crude Oil Terminal

BP Plc (BP/) plans to temporarily restrict very large crude carrier, or VLCC, loadings from Hound Point, Scotland, as the company repairs a mooring hook at the terminal that was damaged by bad weather.

VLCC loadings will be affected from Feb. 1 to Feb. 17, Matthew Taylor, a BP spokesman in Aberdeen, said in an e-mailed response. “Throughout the repair period we will continue to use Hound Point for normal liftings,” he said. The company operates the Forties Pipeline System, or FPS.

“The berth won’t close completely and there will be no impact on throughput via FPS,” Taylor said. “All affected shippers have been made aware.”

Hound Point is the loading terminal for Forties (EUCSFORT) crude, one of the four North Sea grades used to price Dated Brent (EUCRBRDT), the benchmark for more than half of global oil supply. The others are Brent, Oseberg and Ekofisk.

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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