News

WASHINGTON, July 28, 2006 - In a letter to members of Congress ahead of the August recess, API President and CEO Red Cavaney provided an update of the nation’s energy situation. Cavaney explained that supply and demand fundamentals have driven crude oil and refined product prices sharply higher and consumers have responded by limiting fuel usage when they could. He also noted the industry’s hurricane preparedness and reiterated the readiness of API member companies to work with lawmakers to develop “workable solutions” to the nation’s long-term energy challenges.

U.S. petroleum imports, including crude oil and refined petroleum products, in June 2006 were 13,906,000 barrels per day. Total imports in June as a percentage of total domestic petroleum deliveries, a key measure of demand, were 67.4 percent. U.S. crude oil production in June was 5,146,000 per day, of which 810,000 b/d was Alaskan.

WASHINGTON, May 3, 2006 – Alyeska Pipeline Service Company was recently presented with API’s 2005 Distinguished Award for Outstanding Safety and Environmental Performance. Alyeska, operator of the 800-mile-long Trans Alaska Pipeline System, won the award based on its release performance per mile of pipeline operated as reported to the Pipeline Performance Tracking System, its low rate of safety incidents, and its community outreach program, which was widely praised as standard-setting for the pipeline industry as a whole.