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21

ExxonMobil in Panic over Crude Shipments

ExxonMobil on Friday joined ConocoPhillips, declaring force majeure

ExxonMobil on Friday announced it was joining ConocoPhillips in declaring force majeure on its Alaska oil shipments and cutting supplies to customers as a result of pipeline problems at BP's Prudhoe Bay.

"ExxonMobil regrets the inconvenience and will continue to work with its customers to supply alternative crudes," a press release said. "The length and duration of the reduction are not known at present."

The company declined to identify affected customers or to detail alternate supply plans. The press release said it would give updated information as soon as it could.

Traders said Conoco's declaration was likely to affect refiners in Washington state.

BP said it has secured crude oil for its West Coast refineries, which use most of the major's Prudhoe Bay output.

BP has shut in 200,000 bpd in oil output due to the leak. BP has said it may have to shut the entire 400,000 bpd in Prudhoe Bay production to repair the pipeline.