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BP Alaska Pipeline has just been Shutdown due to Oil Spilling out of it. Get ready for oil prices to reverse their decline & turn up sharply.
Alaska oil pipeline shut after spill
Alaska oil pipeline shut after spill
The Trans-Alaska Pipeline, partly owned by BP, shut down on Tuesday after spilling several thousand barrels of crude oil, drastically cutting supply out of Alaska's oilfields.
The accident comes at a difficult time for BP -- the largest single owner of the pipeline operator, holding 47% -- as it struggles to plug a gushing Gulf of Mexico oil well.
The shutdown followed a series of mishaps that resulted from a scheduled fire-command system test at Pump Station 9, about 161 km south of Fairbanks, said Alyeska Pipeline Service Co, the operator of the 800-mile oil line.
The power outage triggered opening of relief valves, causing an unspecified volume of crude oil to overflow a storage tank into a secondary containment.