BP: Pipeline closing may last for months By MARY PEMBERTON, Associated Press Writer
BP PLC said Monday it will replace 73 percent of the pipelines from the nation's largest oil field and that production could be closed for weeks or months, crimping the nation's oil supplies at a time of peak demand. BP, the world's second-largest oil company, began shutting down the pipelines on Monday and said it would replace 16 miles of the 22 miles of transit pipeline it operates in the Prudhoe Bay field following a leak discovered Sunday. Company officials told a news conference they did not immediately know how much it would cost to replace the lines. They will continue to keep the oil field closed and bring parts back into service once it's safe to do so. Once complete, the shutdown will cut production by 400,000 barrels a day, about 2.6 percent of supply including imports, according to data from the U.S. Energy Information Administration. The news drove oil prices up by $2 a barrel and boosted gasoline prices. "BP deeply regrets it has been necessary for us to take this drastic action," said Bob Malone, chairman of BP America. Read more at Yahoo News: http://tinyurl.com/fv7w8 To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
