A federal regulator approved the restart of Sable Offshore Corp.’s contested California oil pipeline that leaked 3,000 barrels of crude along the Santa Barbara coastline a decade ago.
Sable’s shares rose about 30% Tuesday after it said its plan was signed off on by the Department of Transportation’s Pipeline and Hazardous Materials and Safety Administration. The move follows last week’s determination by the regulator that portions of the key oil conduit, the Las Flores Pipeline System, is under the domain of the federal government and not California. State environmental groups are poised to push back.
Houston-based oil driller ...
