Alaska Oil Pipeline Problems

BP says it "won't commit" to a timeline to restart its giant Prudhoe Bay oil field in Alaska once production stops. BP America President Bob Malone says the company is now concentrating on scaling down "in a safe and orderly fashion."

BP announced Sunday that it's shutting down the nation's largest producing oil field after discovering corrosion in a transit pipeline system. The shutdown will cut output from Alaska's North Slope oil province by 400,000 barrels a day.

BP says the shutdown process began Monday. It will take three to five days.

Analysts have speculated it could take months to get the oil field back at normal flow rates.

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