Unexpected flaring at BP's LA refinery
Oil giant BP has reportedly experienced unplanned flaring at its Carson refinery in California.
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
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published