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Exxon Mobil Corporation : Exxon partially restarts Louisiana North Line

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05/07/2012 | 10:49pm CET

ExxonMobil Pipeline Co has partially restarted the North Line oil pipeline after it was shut down more than a week ago because of a leak in rural Louisiana, a spokeswoman said on Monday.

"Over the weekend, ExxonMobil Pipeline Co restarted the portion of the North Line crude pipeline which runs from St. James, Louisiana, to Anchorage, Louisiana," spokeswoman Claire Hassett said in an email.

The 160,000 barrel per day North Line, which serves five refineries including ExxonMobil's huge Baton Rouge facility, was shut on April 28 by a 1,900-barrel leak near Torbert, Louisiana.

Refinery operators had said they were able to keep operating despite the shutdown.

The stretch of North Line that was reopened extends northward from St. James to near Baton Rouge. The stretch affected by the leak, northwest of Baton Rouge, remained shut, the spokeswoman said.

ExxonMobil Pipeline last week restarted its South Line, which had been shut in April for planned inspection. The line runs from Raceland northward to Anchorage.

The shutdowns involved mostly Heavy Louisiana Sweet crude, the price of which had appeared little affected by the interruptions.

(Reporting by Bruce Nichols)

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Financials ($)
Sales 2016 231 971 M
EBIT 2016 12 179 M
Net income 2016 9 153 M
Debt 2016 40 414 M
Yield 2016 3,46%
P/E ratio 2016 38,86
P/E ratio 2017 20,04
EV / Sales 2016 1,71x
EV / Sales 2017 1,24x
Capitalization 356 159 M
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Average target price 88,9 $
Spread / Average Target 3,5%
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Darren W. Woods Chairman, President & Chief Executive Officer
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