Repairs Completed On Trans Alaska Pipeline, Report Says

By Houston Business Journal

Alyeska Pipeline Service Co. has completed repairs on its Trans Alaska Pipeline and oil is flowing again, according to news reports.

Michael Levshakoff, a spokesman for Alyeska, told Bloomberg that the repairs were completed at 3:40 a.m. local time Monday. Reuters reported that company officials expect the flow to reach 500,000 barrels a day by Jan. 18.

The pipeline carries 11 percent of U.S. crude production.

The Trans-Alaska Pipeline System was shut earlier this month because of a leak, forcing BP Plc (NYSE: BP), Exxon Mobil Corp. (NYSE: XOM) and Houston-based ConocoPhillips (NYSE: COP) to cut production from the North Slope area.

Click here to read the Reuters report with updated production information.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/17/repairs-completed-on-trans-alaska.html?ana=thestreet

Copyright bizjournals.com 2010

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