Phillips 66 (NYSE:PSX)’s pipeline near Lodge Grass leaked, Marathon Petroleum Corporation (NYSE:MPC)

Posted by Chris Bell July 5, 2013 0 Comment 1203 views

Phillips 66 (NYSE:PSX) personnel reported that a pipeline near Lodge Grass has leaked as many as 1,000 barrels or 4,200 gallons of gasoline. The leak was detected by the company’s pipeline control centre at Bartlesville, Okla. The cause of the leak has not yet been determined. This pipeline helped in transporting finished petroleum products like unleaded gasoline, diesel and jet fuels from Billings’s refinery to Utah, Colorado and Wyoming.

Dennis Nuss, a spokesman for the company said that the pipeline was immediately shut down and had informed the Environmental Protection Agency, the crow Tribe and the Representatives of the U.S. Department of Transportation Pipeline Safety Administration. He added saying that a crew was immediately sent at the site which is in the Soap Creek Area and the state, local, federal and tribal organizations were also informed about the incident. He also said that there were no harms or injuries caused to any individual and there are no threats to the community or water resources. He informed that the company with other mentioned organizations is working to get the impacted area cleaned and repair the pipeline so that the same can be restarted soon. The incident was not the first one at the Seminoe site earlier in 1997 the pipeline broke twice and spilled around 2300 barrels of gasoline and in the year 2004 due to environmental violations the Conoco Pipeline Co. had to pay $465,000. The oil company changed its pipeline company name and its corporate name after merging with Phillips in 2004.

Patricia Klinger the representative from the Pipeline Safety Administration of the US Department of transportation remarked that the incident occurred due to an “unusual terrain”. She also informed that the investigation might take several weeks to months.

Marathon Petroleum Corporation (NYSE:MPC) is a refinery company which transports and markets petroleum products in the United States. Recently, it was reported in the month of June, that in Texas City due to a leak at the refinery’ fluid catalytic cracking unit, which is a key unit of the gasoline remained closed.

About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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