RCA gives Unocal more time for transfer

State regulators have once again extended the deadline for a Union Oil Company of California subsidiary to transfer its small ownership in the trans-Alaska oil pipeline.

The Regulatory Commission of Alaska is now giving Union Pipeline Co. until Jan. 25, 2015, to request a formal transfer of its interest or to explain why it needs more time.

The previous deadline was Oct. 25.

Union Pipeline had asked for the additional time, saying that it still needed to resolve “several transfer-related matters” with the three other owners, BP Pipelines (Alaska) Inc., Exxon Mobil Pipeline Co. and ConocoPhillips Transportation Alaska Inc.

The parties are in arbitration but are also litigating certain portions of the dispute, according to Union Pipeline. “The litigation has been time-consuming and is likely to continue for a significant period of time. Unocal is evaluating all its options regarding how best to proceed with these matters,” the company wrote in an Oct. 24 filing.

Back in June 2012, Unocal announced plans to sell its 1.36 percent interest in the pipeline. The sale has been held up by tariff-related disputes for more than two years.

A Koch Industries subsidiary also announced a sale of its share of the pipeline in June 2012 and closed the sale to BP, ConocoPhillips and ExxonMobil by the end of the year.

- Eric Lidji