Saturday, August 19, 2006
BP opens Pudhole Bay
Recently, BP was forced to close down Pudhole Bay oil field, because of corrosion and leaks. BP stated that the pipelines will be up and running as early as October. This major Alaskan oil field accounts for 200,000 barrels per day. The company may also consider using a nearby Endicott pipeline if they recive approval. It shocks me that BP would try to keep this under rap... but certain insiders like myself will eventually find out. This is overall good news for the company...being that gas prices soared after the news dropped that Pudhole Bay was shut down... my guess is that by October we should see prices headed down but then back up during the winter season.
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