HOME PAGE SUBSCRIPTIONS, Print Editions, Newsletter PRODUCTS READ THE PETROLEUM NEWS ARCHIVE! ADVERTISING INFORMATION EVENTS PETROLEUM NEWS BAKKEN MINING NEWS

Providing coverage of Alaska and northern Canada's oil and gas industry
May 2014

Vol. 19, No. 20 Week of May 18, 2014

Unocal exit as TAPS owner still pending

Unocal, the smallest stakeholder in the trans-Alaska pipeline system, continues to work toward its exit from the TAPS owner group.

The Regulatory Commission of Alaska in July 2012 gave Unocal permission to temporarily suspend service on its share of capacity on the oil pipeline, pending the sale of its ownership interest.

Unocal said it was bowing out as an owner because its interest in TAPS “no longer meets the company’s core strategic needs.”

The major TAPS owners are BP, ConocoPhillips and ExxonMobil, and these companies could assume Unocal’s interest.

Unocal, which is part of Chevron, holds by far the smallest share at 1.36 percent.

In an April 25 filing, Unocal Pipeline Co. told the commission it “still is not in a position” to transfer its interest.

Unocal and the other TAPS owners “have a dispute over several transfer-related matters,” the filing said, and the parties are “arbitrating their dispute, and are also litigating portions of the dispute so that the transfer process can move forward.”

This is the same language Unocal has used repeatedly in periodic updates provided to the commission.

In a May 9 order, the commission directed Unocal to file another update by July 25.

- Wesley Loy






Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.