Real-time tracking of production, pipeline flows, cargo shipments and disruption alerts.
Forties is the crude oil blend that sets the price for the Brent – Forties – Oseberg – Ekofisk (BFOE) marker. And BFOE is the marker that sets the price for all crude oil grades sold in the Atlantic Basin, from Norway’s Statfjord to Angola’s Cabinda. Libyan and Algerian crude oil is tied to the BFOE marker as is Russian and Saudi Arabian crude oil sold in Northwest Europe.
Frequent technical challenges, production difficulties, and last-minute cargo shipment delays have created an opaque market often led by rumors and hearsay about conditions at the Forties – itself a vast network of 70 offshore oil fields, 4 pumping stations, refining, storage, and 169 kilometers of pipe.
The level of production in offshore fields as well as the operational status of the different pipelines, storage fields and processing remained mysterious. And what you don’t know in the crude oil market certainly can hurt you.
Genscape shines a light into this important corner of the global oil market by monitoring not only the flow on the onshore Forties pipeline, but also the operations of the fractionation plant at Kinneil, the storage at Dalmeny and the Grangemouth refinery. We have an extensive in-the-field network of high-tech monitors to provide real-time tracking of production levels, cargo shipments, outages, and other key factors.
In addition to half-hourly updates on the flow rate of the Forties pipeline, clients get an accurate measure of how much oil is being loaded onto ships at Hound Point, whether all three fractionators are operating at Kinneil, and alerts when units start up or shut down at Grangemouth.
This 360° view of the entire system allows Genscape clients to anticipate any cargo deferrals or other disruptions that could affect the price of the BFOE marker.