Oil giant BP has reportedly experienced unplanned flaring at its Carson refinery in California.
According to Reuters, the state's pollution regulators, the South Coast Air Quality Management District, have said that the 275,000-barrel-per-day refinery in Los Angeles has had a breakdown and flaring is expected to continue until Wednesday next week.
Gas flares are used to get rid of waste gas and also act to alleviate pressure on equipment.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
BP Carson covers 630 acres and has 1,100 employees supported by 600 contractors. Around 90% of the crude oil that comes in to the refinery is used as transportation fuel, supplying a quarter of Southern California's gasoline and two-fifths of its diesel.
"Over half of a billion dollars has been recently invested into BP Carson to improve efficiency and meet California's strict quality and environmental standards," BP's website says.
BP's shares were trading 0.23% higher at 496.5p in the opening minutes on Friday.
BC
-
Inheritance tax reforms: government urged to rethink curbs on rural reliefsMPs want the government to delay changes to inheritance rax reliefs for farmers
-
‘I’m among the thousands of millionaires leaving the UK – the new tax rules don’t make sense ’MoneyWeek spoke to a serial entrepreneur who is leaving the UK following the abolition of the non-dom tax status
