real-time news and commentary for investors
Friday, Aug 16
Exxon official says Arkansas pipe in spill could be retired
- An Exxon Mobil (XOM) VP says it’s too early to know the fate of the 1940s-era Pegasus pipeline that leaked oil into an Arkansas town earlier this year but says it could be taken out of service.
- The official says pipeline inspections in 2010 found "anomalies" but found no trouble in the section of pipe that ruptured, or during other tests in February.
- XOM reiterates the pipeline will not be restarted until the company and federal government are sure it’s safe to do so.