ConocoPhillips picking up Amerada Hess share of trans-Alaska pipeline - December 01, 2002

Providing coverage of Alaska and northern Canada's oil and gas industryDecember 2002

Vol. 7, No. 48

Week of December 01, 2002

ConocoPhillips picking up Amerada Hess share of trans-Alaska pipeline

Petroleum News Alaska Staff

Amerada Hess Corp. is selling its entire 1.5 percent interest in the trans-Alaska pipeline system to ConocoPhillips, whose interest will grow from 26.7953 percent to 28.2953 in the pipeline and from 25.7445 to 27.2445 in terminal tankage assets.

The companies have asked the Regulatory Commission of Alaska to approve the transfer by Dec. 27. The RCA is asking for comments by Dec. 22.

Current owners of the trans-Alaska pipeline are: BP Pipelines (Alaska) Inc. 46.9 percent; Phillips Transportation Alaska Inc. 26.79 percent; ExxonMobil Pipeline Co. 20.34 percent; Williams Alaska Pipeline Co. L.L.C., 3.08 percent; Amerada Hess Corp. 1.5 percent; and Unocal Pipeline Co. 1.36 percent.

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