U.S. Markets close in 5 hrs 5 mins

PHMSA requiring Exxon get written consent before reopening Arkansas pipeline

The Pipeline and Hazardous Materials Safety Administration, or PHMSA, sent Exxon Mobil (XOM) a corrective action order, and as part of the order, the company is required to obtain written approval from the PHMSA director, among other conditions, before operation of the Pegasus Pipeline, which failed on March 29 in Mayflower, Arkansas, can resume.