Alaska pipe work helped cut U.S. oil inventories

NEW YORK, July 2 Thu Jul 2, 2009 8:47pm IST

NEW YORK, July 2 (Reuters) - A routine shutdown for maintenance on the Trans Alaskan Pipeline System helped push U.S. oil inventories lower last week, an analyst at the Energy Information Administration said.

"That's certainly part of it," the oil and natural gas analyst at the EIA, the statistics branch of the Department of Energy, said about the shutdown. "How much of a role it played we're not sure."

Traders had been puzzled by weekly U.S. petroleum numbers the EIA published on Wednesday that showed oil inventories fell last week by a larger-than-expected 3.7 million barrels, despite slightly lower refinery runs and imports that rose a bit.

The draw was heavy on the West Coast, which operates as a separate market and receives oil from Alaska.

Alyeska Pipeline Service Co, operator of the 800-mile (1300 km) pipeline, said last month it had scheduled maintenance starting on June 20 that was expected to last up to 36 hours.

Alyeska typically does one or two line-wide maintenance shutdowns each summer. The pipeline shutdowns are also coordinated with North Slope oil producers' summer work plans.

A similar maintenance shutdown on the pipeline is slated for July 18 to 19.

(Reporting by Timothy Gardner; Editing by Walter Bagley)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage