Wednesday, November 3, 2010

BP (NYSE:BP) Pipelines in Alaska Could Fail Says Internal Report

According to an internal maintenance report of BP (NYSE:BP), a minimum of 148 pipelines on the North Slope in Alaska are in danger of failing, generating questions on BP's new commitment to safety.

The company has ranked the 148 pipelines as an "F" at this time.

Most of the pipeline problems come from what is described as severe corrosion, in some cases worn to levels of only millimeters from bursting, says the report.

Responding to the alleged pipeline problem, BP's Alaska spokesman, Steve Rinehart, said there was "an aggressive and comprehensive pipeline inspection and maintenance program" in place to deal with the testing for safety concerning corrosion.

BP's Alaska spokesman, Steve Rinehart, said the company had , which included spending millions of dollars and regularly testing for safety, reliability and corrosion.

Also at issue is the reliability of fire and gas warning systems, which Rinehart also said are tested on a regular basis.

"We will not operate equipment or facilities that we believe are unsafe," Rinehart concluded.

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