Read the Latest News Affecting the Tank and Terminal Industry
Where Will You Go - Crude Supply vs. Export Capacity at Beaumont-Port Arthur
RBN Energy, Nov. 20, 2019
The growing pipeline capacity to the Gulf Coast is creating an imbalance in surplus crude volumes, especially in areas such as Beaumont-Port Arthur, Texas, where relatively narrow waterways restrict the type and size of vessels that can be loaded.
US Beefs Up Global Oil Imports Ahead of IMO 2020
MFAME, Nov. 12, 2019
Imports of high-sulphur fuel oil (HSFO) from Russia and former Soviet Union countries climbed to a multi-year high of 1.35 million tonnes in October as prices for the HSFO continue to fall ahead of new IMO regulations for 2020. U.S. refiners have the technology to break down the cheaper crudes to regulation-compliant products.
Port Commission Approves 2020 Operating and Capital Budget
Invester Network, Nov. 11, 2019
Projecting a 7% increase in revenues for 2020, the Port of Houston Port Commission approved a Capital Budge of $232 million for 2020. The approved budget includes Houston Ship Channel work and other strategic recapitalization projects.
Construction Starts on Ingleside Pipeline, Harvest Midway Terminal
Oil & Gas Journal, Nov. 5, 2019
Harvest Midstream Co., a Hilcorp Energy Co. subsidiary, announced earlier this month that construction of its Ingleside pipeline had begun. The 24 miles of 24-inch pipeline will serve terminals located in the Ingleside, Midway and Taft areas.
Centurion Pipeline L.P. Launches Binding Open Season for Augustus Pipeline to Provide Service from Midland to Crane
Oil & Gas 360, Nov. 5, 2019
Centurion Pipeline L.P. announced earlier this month the opening of a binding season for commitments on its proposed Augustus Pipeline from Midland, Texas to Crane, Texas. The season will close Dec. 9, 2019 at 5 p.m. Central time.
Gateway Terminal Approved for FTZ
Breakbulk Events & Media, Nov. 5, 2019
The Foreign-Trade Zones Bureau for the U.S. Department of Commerce approved expanding the FTZ subzone at the Gateway Terminal in New Haven, Connecticut. The expansion includes three new warehouses and seven aboveground liquid storage tanks.
How Rising US Energy Exports Positively Impact the US Trade Deficit
Seeking Alpha, Nov. 5, 2019
Steadily increasing energy production in the U.S. and a near even energy import/export ratio is helping to narrow the $900 billion trade deficit.
Port Houston Leading Now While Also Looking to Future
The Waterways Journal Weekly, Nov. 1, 2019
Like most things in Texas, the Port of Houston is big – stretching nearly 25 miles along the Houston Ship Channel. The Port regularly tops the list nationally as the highest tonnage port in the country, and first in total cargo imports as well. In addition, the Port of Houston also accounts for more than 10% of all jobs in U.S. coastal ports.
Pembina Secures Regulatory Nod for Kinder Morgan Canada Acquisition
NS Energy, Nov. 21, 2019
The Canadian Competition Bureau issued a "no-action letter" last week to Pembina Pipeline, signaling approval for Pembina to move forward with its acquisition of the outstanding common equity for Kinder Morgan Canada.
Phillips 66 to Cut Tariffs for Permian Basin Crude Pipeline
HartEnergy, Nov. 20, 2019
Phillips 66 Partners LP has filed a proposal to Texas state regulators for approval to set a spot and committed rate of $3.90 per barrel for transport of crude on its new 900,000 bbl/d Gray Oak pipeline within the State of Texas.
Plains All American Expects Wink-to-Webster Crude Pipe Construction to Begin by Year-End
Fidelity, Nov. 5, 2019
Plains All America Partners LP reported earlier this month that construction on its new Wink-to-Webster Pipeline would break ground in December and be online by early 2021. The pipeline is expected to transport more than 1 million b/d of crude and condensate when fully operational.
Calumet Specialty Products Partners, L.P. Announces Strategic Divestiture of San Antonio Refinery and Related Assets
Market Screener, Nov. 11, 2019
Calumet Specialty Products Partners, LP sold their San Antonio, Texas refinery, pipeline and crude oil terminal to Starlight Relativity Acquisition Company, LLC on November 1 for a reported $63 million cash sale price.
Days of Wild - Butane Prices Are Up, and a Big Draw on Butane Stocks May Be in the Offing
RBN Energy, Nov. 18, 2019
With production and inventories of butane at near all-time highs, prices for butane fell to a decade low. But with new capacity coming online to facilitate export growth and prices again on the rise, what does this mean for the butane market this winter?
Tallgrass Energy Announces Open Season for Expansion on Pony Express Pipeline
WBOC, Nov. 19, 2019
Tallgrass Pony Express Pipeline, LLC is currently seeking shipper commitments for crude oil transport from its new origin near Carpenter, Wyoming. Pony Express plans to add 25 miles of 12-inch pipeline, expanding the capacity from Wyoming to Sterling, Colorado.
Southern Chilean Region Rejects Plan for Copec Fuel Import Terminal
S&P Global, Nov. 18, 2019
Chile's largest fuels distributor, Copec, has been denied approval for a new fuel terminal at the southern port of Coronel. Regional authorities voted to reject the environmental impact statement submitted by Copec, but the distributor said in a statement it would explore legal avenues for reversing the decision.
Propane Shortage Another Headache for Farmers
Farm Progress, Nov. 26, 2019
After a soggy fall harvest, House Agriculture Committee Chair Collin C. Peterson has tasked the Federal Energy Regulatory Commission with ensuring that deliveries of propane to Midwest farmers is not interrupted during the colder, winter months.
Australian Competition and Consumer Commission: ANZ Terminals, GrainCorp Deal Not Opposed with Divestments
Market Screener, Nov. 14, 2019
ANZ Terminals Pty Ltd's proposed acquisition of GrainCorp Bulk Liquid Terminals has been approved by the Australian Competition and Consumer Commission, but only after ANZ agreed to divest itself of its Osborne facility in South Australia and GrainCorp's Port Kembla facility was excluded from the transaction.
Pemex Faces Payment Problems After Cyber Attack Shut System
From Press, Nov. 13, 2019
Mexico's Petroleos Mexicanos was hit with ransomware on November 13, effectively crippling its billing system and reducing the company to manual billing of personnel, suppliers and fuel deliveries.
Rattler Midstream LP, a Subsidiary of Diamondback Energy, Inc., Announces Closing of Reliance Gathering Acquisition
Markets Insider, Nov. 12, 2019
Rattler Midstream LP and Oryx Midstream have closed their previously announced acquisition of Reliance Gathering, LLC for about $356 million in cash, subject to post-closing price adjustments.
Iran on Track to Open New Oil Terminal Outside Gulf
TVN, Nov. 12, 2019
In a bid to bypass the strategic Strait of Hormuz, Iran announced November 12 that it would build a new oil terminal and open a new export route for its crude oil tankers. The Iranian Oil Ministry’s website says the proposed 1,000-kilometer Goreh-Jask pipeline will be ship its first crude within 18 months.
Trade Tensions, Market Glut Press upon Olive-Oil Prices
Fidelity, Dec. 1, 2019
An abundant harvest of Spanish olive oil this year and a new 25% tariff on imports to the U.S. have led to a glut in the market and lowering prices worldwide. Yet, since the tariff applies only to containers weighing less than 18 kilograms, importers are expected to buy more oil in bulk, said Joseph R. Profaci, executive director of the North American Olive Oil Association.
Campo: Deepening Houston Ship Channel Is Top Priority
The Waterways Journal, Nov. 29, 2019
Home to the world's largest petrochemical complex and a hub for the U.S. pipeline network, Port Houston Commission Chairman Ric Campo says the widening and deepening of the Houston Ship Channel is integral to the U.S. national economy and the safe and efficient movement of oil and gas products.
Equatorial Guinea Announces $1 Billion of Energy Projects
Reuters, Nov. 28, 2019
Along with plans to build two new oil refineries, Equatorial Guinea announced a plan to add more oil product storage infrastructure including a methanol-to-gasoline plant and the expansion of a liquefied national gas project.
Seaway Sets Open Season for Expansion
Rigzone, Nov. 25, 2019
Seaway Crude Pipeline Co. LLC announced a binding open season for commitments to expand capacity on its pipeline from Cushing, Oklahoma to the Texas Gulf Coast. The expansion will add an additional 200,000 b/d primarily through pump upgrades.