Reuters: BP Alaska production cut some more [View All]

[Newsjock]

http://money.cnn.com/2006/08/24/news/international/bc.energy.alaska.output.reut/index.htm?cnn=yes

ANCHORAGE, Alaska (Reuters) -- BP PLC said Wednesday that oil production at its Prudhoe Bay oilfield in Alaska, already running at half capacity due to pipeline corrosion, has been cut by 90,000 barrels per day (bpd) for several days due to a technical fault.

A company spokesman said output at the biggest oilfield in the United States had been reduced to 110,000 bpd after a natural gas compressor in Gathering Center 2 failed.

"We anticipate that fixing the compressor will require several days," said BP (Charts) spokesman Daren Beaudo.

... Oil prices initially rose on the news as dealers feared it would further squeeze U.S. West Coast refiners, who have bought extra supplies from around the world this month in order to cover for the lost Alaskan supply, a staple of their crude diet.