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U.S. allows partial restart of Exxon's Pegasus pipeline a year after rupture

  • The Pipeline and Hazardous Materials Safety Administration approves Exxon Mobil's (XOM) plan to restart operations for the 210-mile Texas leg of its Pegasus pipeline that a year ago spilled ~5K barrels of oil into a residential area in Arkansas.
  • The federal regulator had accused XOM of failure to account for risks in the 70-year old pipeline and said the company could face ~$2.7M in fines.
  • Last year, Sunoco Logistics (SXL) delayed a West Texas to Nederland pipeline project linked to Pegasus because of the shutdown; it is not clear what impact the restart will have on that project.
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