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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Razorbak who wrote (58959)	1/24/2000 3:41:00 PM
From: Aggie	Respond to of 95453

Razor, More on the pipeline rupture Monday January 24, 11:38 am Eastern Time Damaged U.S. Gulf crude pipeline remains closed HOUSTON, Jan 24 (Reuters) - The 200,000 barrel-per-day Poseidon crude oil pipeline remained closed in the U.S. Gulf of Mexico on Monday after sustaining damage and leaking about 94,000 gallons of crude oil Friday, operator Equilon Pipeline Co. said. ''They're working on plans to repair the damaged pipeline and get it restarted,'' Equilon spokesman Dave McKinney told Reuters. It was not yet known when the pipeline would reopen, he added. Drilling contractor Transocean Sedco Forex Inc.(NYSE:RIG - news) said on Friday one of its drilling rigs accidentally dropped an anchor and damaged the Poseidon pipeline in Ship Shoal Block 332 of the U.S. Gulf of Mexico on Friday. Traders in the U.S. cash crude market on Monday said the pipeline problems had little impact on differentials of domestic crude. Poseidon is a minor sour grade of U.S. crude. Government agencies and the companies involved in the incident used chemical dispersants over the weekend to break up a slick caused by some 94,000 gallons of crude oil that was spilled from the damaged pipeline before it was closed down. The incident occurred 120 miles south of New Orleans in the Gulf of Mexico. The pipeline carries crude oil to a terminal at Houma, La., about 50 miles southwest of New Orleans. Equilon is a joint venture company owned by Royal Dutch/Shell Group(quote from Yahoo! UK & Ireland: SHEL.L) and Texaco Inc.(NYSE:TX - news). Don't you just love those "Mutual Indemnification" clauses in the rig contracts? Regards to all, Aggie