Read the Latest News Affecting the Tank and Terminal Industry
U.S. Refiner Phillips 66 Enters Offshore Oil Export Race - Document, Source
Reuters, June 19, 2019
Challenging leading contenders in the global market, oil refiner Phillips 66 proposed building a deepwater crude export terminal in U.S. Gulf coastal waters. The project, named Bluewater Texas Terminal, LLC, would service pipelines from shale fields in West Texas, North Dakota and Oklahoma.
Converge Midstream LLC Announces Acquisition of Fairway Energy Partners, LLC Assets
Association of Energy Engineers PR Wire, June 19, 2019
Converge Midstream announced this week its acquisition of Fairway Energy Partners' assets, a move that positions Converge to act as a major shipping hub for operators in and out of Houston.
Canada PM Approves Controversial Pipeline Expansion
Yahoo News, June 18, 2019
Approving a controversial pipeline expansion on June 18, Canadian Prime Minister Justin Trudeau said the project was needed to boost production and lower the price of oil in Canada, as well as reduce Canadian dependence on U.S. oil.
Sentinel Midstream Files for Deepwater Port License
Offshore, June 3, 2019
Looking to the coastal waters of Freeport, TX, Texas GulfLink LLC, a subsidiary of Sentinel Midstream LLC announced June 3, its plans to construct and operate a deepwater crude oil export facility approximately 30 miles offshore. The license to build is currently pending approval by the U.S. Maritime Administration.
Magellan Midstream Reportedly Seeking Sale of Longhorn Pipeline Stake
HartEnergy, June 25, 2019
Joining a growing contingent of companies looking to divest their portfolios of existing assets, Magellan Midstream Partners LP announced June 25, it will sell a 35% share in its Longhorn crude oil pipeline in Texas.
Enterprise Products Explores Sale of Texas Oil Terminal Stake
Seeking Alpha, June 17, 2019
Enterprise Products Partners (EPD) is selling its 50% share in the JV, Eagle Ford Terminals Corpus Christi in a move that will allow it to focus its interests in the Houston area, where it already has a larger presence than in Corpus Christi.
NuStar Energy LP Begins Binding Open Season
MarketScreener, June 15, 2019
NuStar Energy announced it will extend its Binding Open Season until July 12, focusing on committed production transportation for its Valley Pipeline System in South Texas.
Plains All American Pipelines Rides Wave of Surging Crude Oil Production, Exports
Houston Chronicle, June 13, 2019
Realizing strong gains in 2018, Plains All American Pipeline LP reported a healthy $2.2 billion profit, earning it the No. 4 spot on the Chronicle 100.
Phillips 66’s Autonomous Robot Completes Tank Inspection
Business Report, June 10, 2019
Collaborating with Boston-based robotics company Square Root, Phillips 66 has completed its first ever in-service inspection by an autonomous robot, with plans to deploy more unmanned robots at several refineries and plants.
Flint Hills Resources Retains J.P. Morgan to Market Ingleside Crude Oil Terminal
Markets Insider, June 26, 2018
J.P Morgan has been hired to market and explore sales options, and to identify strategic planning alternatives for its Ingleside crude oil terminal at Corpus Christi, TX.
Saddlehorn Pipeline to Expand and Add New Ft. Laramie Origin, Launches Open Season
Barchart, June 1, 2019
Saddlehorn Pipeline Company, LLC, in conjunction with enhancements to its Saddlehorn pipeline and its Ft. Laramie, WY origin, today launched an open season through July 31, 2019 to solicit long-term commitments for capacity on its pipeline system.
UPDATE 1-U.S. Regulator Pauses Review of Enbridge, Oiltanking Crude Export Project
USA News Hub (Reuters), June 28, 2019
U.S. regulators have temporarily halted review of Enbridge, Inc.'s proposed deepwater port located about 30 miles off Freeport, TX, citing a need for more information about an air pollution control system located within the design.
Phillips 66's Oil Port off Corpus Christi Aims to Load 16 VLCCs a Month
S&P Global, July 2, 2019
Phillips 66's proposed Bluewater Texas Terminals, a deepwater oil export terminal to be located off the coast of Corpus Christi, TX, is expected to load up to 16 LVCCs a month with a flow of up to 1.9 million b/d with its two, single-point-mooring buoys.
Vitol Building New Crude Oil Tanks in Malaysia
Reuters, June 27, 2019
Vitol, the world's largest independent oil trader, is adding six new storage tanks to its Tanjung Bin facility in the southern Malaysia state of Johor. The new tanks add more than 230,000 cubic meters of capacity in which to better hold feedstock for its new refinery currently under construction at the same site.
Kinder Morgan and Tallgrass Energy Announce Joint Tariff Open Season to Increase Crude Capacity Out Of the Bakken
Mediacom, June28, 2019
Hiland Crude, LLC, a subsidiary of Kinder Morgan, and Tallgrass Pony Express Pipeline, LLC, a subsidiary of Tallgrass Energy, LP, announced a joint tariff open season to solicit commitments for service from Bakken Formation origin points along the Hiland system to delivery points along the Pony Express system and on to Cushing, OK.
Expert Focus: US States Outpace EPA on PFAS Firefighting Foam Laws
National Law Review, July 3, 2019
While the EPA works its way through a morass of federal bureaucracy, states like Michigan, Georgia and Minnessota are moving forward with legislation for using polyfluoroalkyl substances to fight fires.
Red Oak Pipeline Announces Supplemental Open Season
Barchart, July 5, 2019
Red Oak Pipeline, LLC, announced today a supplement open season for transportation commitments from Oklahoma origins to locations in Corpus Christi, Ingleside, Houston and Beaumont, Texas.
Divestment Shanghai Terminal
Toshiba, July 4, 2019
Looking to focus on their European and U.S. projects, LBC Tank Terminals announced today that it will sell its shares of the Shanghai Terminal to Costco Shipping effective June 12, 2019.
Iraq, Oman to Cooperate in Oil and Gas Sector
Oil Review, July 7, 2019
To facilitate a possible shared refinery in Oman for importing Iraqi crude, Iraq and Oman have signed a memorandum of understanding today for cooperation in the oil and gas sector. The two countries also seek to jointly pursue additional oil exploration and production.
Where Are My Permian Barrels Going?
Oilman Magazine, July 5, 2019
High demand markets in Asia and Europe, together with capacity bottlenecks, port vessel constraints and increased requirements for production have set unprecedented challenges for U.S. oil companies.
North America Oil Storage Market is Projected to Reach USD $931 Million by the End of 2023
KD Market Insights has released its North American Oil Storage Market report forecasting the current and future market trends in North America. The report is segmented by type, material, product design and country.