Wednesday, May 26, 2010

BP (NYSE:BP) LA Refinery Closed for Unscheduled Maintenance

A major BP (NYSE:BP) (LON:BP) refinery was closed in the area of Los Angeles today, with the oil company shutting it down for unscheduled maintenance.

The Carson refinery, which produces as high as 6.3 millio gallons for the three-state area of California, Nevada and Arizona, is an fluid catalytic cracking unit, or FCCU, providing gasoline grades required in the area.

A Planned Flaring Event Notification was filed by BP to state regulators in California in reference to an unidentified breakdown at the refinery.

Someone familiar with the matter said the refinery will probably be out of service for 10 days.

Carson has the ability to process as high as 265,000 barrels of oil a day.

We'll probably hear a lot of these types of actions by BP going forward, as they can't afford any type of additional accident in light of the current crisis in the Gulf, and so will probably be cautious to a fault for a long time into the future.

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