NEW YORK/ANCHORAGE (Reuters) – Last week’s shutdown of the Trans Alaska Pipeline System, a major artery for U.S. oil, may signal trouble ahead for Alaska’s aging oil infrastructure, including more frequent incidents that could damage the environment and cause oil prices to soar.
Workers braved sub-zero temperatures to install a bypass around a small leak at TAPS, allowing the line that ships 12 percent of domestic crude supplies to restart on Monday, and halting the advance of oil prices toward $100 a barrel.
NEW YORK (Reuters) – BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) fixed a tanker cargo of Russia’s ESPO crude for shipment to the U.S. West Coast after a shutdown of Alaska’s main oil pipeline prompted some oil companies to look at foreign crude substitutes, two shipping sources told Reuters on Friday.
BP was said to fix the 115,000 deadweight ton Helga Spirit tanker to load Eastern Siberian pipeline crude on January 20, two shipping sources said. The fixture was done Thursday, one of the sources said.
NEW YORK, Jan 13 (Reuters) – Alaska’s main oil pipeline
will shut for 36 hours over the weekend to install a bypass
aimed at restoring oil shipments to full volumes after the line
was shut following a leak last week, its operator said on
Crude flow has been restored to 400,000 barrels per day,
about two thirds normal, after operator Alyeska partially
resumed shipments earlier this week.
ANCHORAGE/NEW YORK, Jan 12 (Reuters) – Alaska’s key oil
pipeline has resumed shipments and was pumping 400,000 barrels
per day, almost two-thirds of its normal levels, following a
four-day shutdown due to a small leak, its operator said on
Since it was shut on Saturday, the closure of the line that
normally transports 640,000 bpd shut in almost 12 percent of
U.S. oil production and threatened to prompt supply shortages
for refiners on the U.S. West Coast.
NEW YORK (Reuters) – In an emergency measure to keep it from freezing, Alaska’s largest oil pipeline resumed oil shipments at reduced rates late Tuesday following a small leak that had shut the line since Saturday and halted around 12 percent of U.S. oil production.
The temporary restart of the 800-mile (1,300-km) line comes as operator Alyeska and regulators scramble to prevent oil and water from freezing in the pipes, which could pose major problems for restarting the line on a permanent basis. The pipe normally carries about 640,000 barrels per day of crude from Alaska’s North Slope.
NEW YORK, Jan 11 (Reuters) – Chevron (CVX.N: Quote, Profile, Research, Stock Buzz) quickly
restored oil output at a U.S. Gulf of Mexico platform after an
incident caused a brief shutdown on Monday, the company said on
The platform, which pumps Eugene Island crude, was shut
down for an hour on Monday, Chevron spokesman Scott Walker said
without offering details on what caused the outage.
NEW YORK (Reuters) – The shutdown of Alaska’s main oil pipeline poses only a minor threat to U.S. crude supplies, but any snag delaying its restart could send West Coast refiners scrambling for substitute crude and drive up prices.
The 800-mile Trans Alaska Pipeline System (TAPS), which carries over 600,000 barrels per day (bpd) or 12 percent of U.S. oil output, was shut on Saturday after a 10 barrel leak was discovered in a pump station.
ANCHORAGE/NEW YORK (Reuters) – The Trans Alaska Pipeline was shut for a third day on Monday with no timeline for resuming oil flows after a leak forced producers to cut Prudhoe Bay output from 630,000 barrels per day to a trickle.
Oil prices rose 1 percent on Monday as the outage halted nearly 12 percent of U.S. crude output, and shares in BP, the major stakeholder in pipeline operator Alyeska Pipeline Service Co, fell 1.25 percent.
HOUSTON/NEW YORK, Dec 15 (Reuters) – Global oil and natural
gas exploration and production spending will jump 11 percent to
$490 billion next year, Barclays Capital forecast on Wednesday,
the highest level in more than 25 years of surveys.
The spending spree, expected to boost profits at oil
service companies worldwide, will be most evident in emerging
markets such as Latin America, the Middle East/North Africa
region and Southeast Asia, the semiannual survey of more than
400 oil companies found.
NEW YORK (Reuters) – Oil rose to a new 25-month high on Friday, gaining for a fourth day, as a weaker U.S. dollar spurred more commodities investment and a cold spell in Europe tightened fuel supplies.
U.S. crude futures for January rebounded from an earlier decline to rise $1.0 to $89.08 a barrel by 1:06 p.m. in New York, after rising as high as $89.18.