BP is in talks with chemicals company Ineos over the sale of the Forties pipeline, the largest in the North Sea
The pipeline transports about 450,000 barrels of oil a day, about 40% of UK production. It is one of the oldest in the sector, having started operating in 1975.
Both companies confirmed talks were taking place but gave no further details.
Ineos is a major operator at the Grangemouth complex.