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ConocoPhillips says declares force majeure on Prudhoe oil cargoes
Platts
New York
Petroleumworld.com 08 11 06
ConocoPhillips has declared force majeure on its crude oil shipments from
Alaska's Prudhoe Bay due to the field's ongoing closure, a company spokesman
said Thursday."ConocoPhillips is advising crude oil customers that curtailment of
supply from the Prudhoe Bay field has resulted in the decision to declare
force majeure...," spokesman Bill Tanner said, reading from a prepared
statement.Tanner noted the force majeure affects only ConocoPhillips' shipments
from the Prudhoe Bay field, and not the company's other assets in Alaska. He
also said ConocoPhillips was doing all it could to minimize the disruption to
its customers.ConocoPhillips owns a 36.07% share in the Prudhoe Bay operating unit,
representing about 144,000 b/d of its 400,000 b/d of production. The major
owns three refineries on the US West Coast -- a 138,700 b/d plant in Los
Angeles, a 106,000 b/d plant near Rodeo in California, and a 93,000 b/d
refinery in Ferndale, Washington.BP operates and owns 26.35% of the Prudhoe Bay field, while ExxonMobil
owns 36.40%.BP announced on Sunday it would begin shutting down Prudhoe Bay, the
largest oil field in the US, due to the corrosion discovered in the field's
pipeline network. The company subsequently said it is reviewing the
possibility it may be able to keep the 200,000 b/d western portion of the
field open while pipeline repairs are made in other parts of the field. A
decision on that is expected by Monday, the company has said.--Kevin Saville, kevin_saville@platts.com
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Platts 10 08 06
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