Allstocks.com's Bulletin Board: Major Alaskan oil field shutting down (8% of US Production)

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Posted by NaturalResources on :

Major Alaskan oil field shutting down

By MARY PEMBERTON, Associated Press Writer

ANCHORAGE, Alaska - Half the oil production on Alaska's North Slope was being shut down Sunday after BP Exploration Alaska, Inc. discovered severe corrosion and a small spill from a Prudhoe Bay oil transit line.

BP officials said they didn't know how long the Prudhoe Bay field would be off line. "I don't even know how long it's going to take to shut it down," said Tom Williams, BP's senior tax and royalty counsel.

Once the field is shut down, in a process expected to take day, BP said oil production will be reduced by 400,000 barrels a day. That's close to 8 percent of U.S. oil production as of May 2006, according to data from the U.S. Energy Information Administration.

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Full Text Here:

http://news.yahoo.com/s/ap/20060807/ap_on_bi_ge/oil_field_shutdown;_ylt=AhfpAgYl eWzuio4HuuEsdHGs0NUE;_ylu=X3oDMTA3bGI2aDNqBHNlYwM3NDk-

Posted by OILDOG on :

Be not afraid. PGPM can make that up,easy!!With a little help from AOGS and UPDA. [Wink]

Posted by Livinonklendathu on :

Having an effect:

PRICE* CHANGE % CHANGE TIME
Nymex Crude Future 76.40 1.64 2.19 06:38
Dated Brent Spot 77.58 1.30 1.70 07:08

Posted by jwctkd28 on :

THIS is when you buy the stock.

When it reopens, the stock will shoot up.