BP's giant Alaska oil field may recover by January
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BP's  giant oil field in Alaska  could return to full production by January after the company  fixes pipeline corrosion that triggered multiple leaks on the  tundra, the U.S. government said Tuesday.
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British energy giant BP has ended one of its most difficult years on a high after announcing Tuesday that it has begun production at the deepwater Atlantis oil and gas field in the Gulf of Mexico.
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Oil steadied on Friday, having hit a   five-month low under $67 a barrel after U.S. fuel supplies rose   and BP said it might fully restore the largest U.S. oilfield   sooner than expected.
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January starts data throw cold water on hopes for recovery.
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BP Plc BP.L this week will conduct   safety tests and seek permission to restart part of the eastern   Prudhoe Bay oil field pipeline in Alaska that was shut due to   corrosion, the company told Congress on Tuesday.
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An accelerating thaw of the Arctic may open vast regions for oil and gas exploration but that brings worries of spills in the fragile environment, experts said on Thursday.
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BP  on Friday said it will  keep the western half of its Prudhoe Bay oil field online,  enabling the company to get the field up to half its prior  output despite pipeline corrosion.
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Oil extended a week of losses to strike a   new five-month low under $67 on Friday after U.S. distillate   supplies rose sharply and BP said it might be able to restore   its Alaskan oilfield sooner than expected.
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ANCHORAGE, United States  - An oil spill near a sensitive wildlife reserve unleashed when a freighter snapped in two off Alaska last week appears to be less serious than initially feared, officials said.
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British energy company BP reported weak crude production in the third quarter following the partial shutdown of Prudhoe Bay -- the largest oil field in the United States.
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BP Plc BP.L will be able to restart   105,000 barrels per day of oil production from the eastern side   of Prudhoe Bay within "a few weeks" after Alaska regulators   approved on Friday the oil major's plan to connect the field to   the nearby Endicott pipeline.
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BP Plc, the world's second largest oil  company, reported bumper third-quarter profits on Tuesday  thanks to high oil prices, but analysts said higher capital  expenditure plans raised some concerns about the extent of  future share buybacks.
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BP Plc  is shutting  down its giant Alaska Prudhoe Bay oil field due to a damaged  pipeline, slashing West Coast supplies and prompting the U.S.  government to consider releasing emergency stockpiles as prices  jump.
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WASHINGTON -- BP PLC plans to ask federal regulators this week to resume operation of a segment of its pipeline so further tests can be made in hopes of restoring full production on Alaska's North Slope, a company executive told a Senate hearing Tuesday.
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BP  unit BP Exploration  (Alaska) Inc has agreed to pay $379 million to settle a dispute  over outstanding corporate income taxes charged between the  years 2000 and 2002, Gov. Sarah Palin said on Monday.
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Oil prices rose 0.85 percent on Tuesday after bad weather forced a loading halt at Alaska's main export terminal and analysts forecast a drawdown in U.S. fuel stocks ahead of winter.
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Energy company BP has reported weak crude production in the third quarter following the partial shutdown of Prudhoe Bay -- the largest oil field in the United States.