Read the Latest News Affecting the Tank and Terminal Industry
Vopak, BlackRock Acquire Three Gulf Coast Industrial Terminals from Dow
A joint venture by Netherlands-based Royal Vopak and BlackRock Global Energy & Power Infrastructure Fund has been selected by Dow to acquire three major industrial terminals in St. Charles, La., Plaquemine, La., and Freeport, Tex. for about $620 million. Total capacity of the three terminals is 852,000 cubic meters.
Some Producers Setting Records Despite Low Drilling Levels
Rigzone, Sept. 18, 2020
Though drilling activity has plunged to the lowest level in nearly 20 years, drilling productivity has been delivering "more-than-respectable results," according to August data from the American Petroleum Institute.
Inter Pipeline to Sell Majority of European Bulk Liquid Unit for $538 Million to CLH Group
POSTHASTE, Sept. 22, 2020
Canadian-based Inter Pipeline announced it will sell the bulk of its European liquid storage holdings, including assets in the Netherlands, U.K., Ireland and Germany, to Spain-based CLH Group for about $537.7 million.
Empire Pipeline Becomes Empire Midstream
SUBMAR, Sept. 19, 2020
Effective Sept. 19, 2020, Empire Pipeline LLC will now be known as Empire Midstream, reflecting the company's expanded presence in the midstream sector and a wider set of services, including crude oil pipelines and storage, blending, and produced water filtration and disposal.
Suburban Propane to Acquire 39% Stake in Oberon Fuels
New Jersey Business, Sept. 18, 2020
New Jersey-based Suburban Propane Partners, L. P. has purchased a 39% stake in San Diego, Ca.-based Oberon Fuels, Inc., producer of low carbon, renewable dimethyl ether transportation fuel.
With Rural Voters' Support at Risk, Trump Administration Backs Most Ethanol Mandates
Iowa City Press-Citizen, Sep. 14, 2020
Future hardship waivers will be rejected by the U.S. Environmental Protection Agency (EPA), according to a letter to refiners from EPA Administrator Andrew Wheeler, in which he states 54 of 68 retroactive waiver requests will be denied. The move follows President Trumps promises to promote domestic biofuel production and support of U.S. farmers.
Energy Secretary Will Push for Fed Funds to 'Hurricane-Proof' Louisiana Energy Infrastructure
nola.com, Sept. 11, 2020
Lingering damage in the aftermath of Hurricane Laura prompted Energy Secretary Dan Brouillette to secure federal disaster relief funds to "hurricane-proof" critical energy infrastructure throughout Louisiana.
Australia to Give $146 Million in Grants to Boost Fuel Reserves
BNN Bloomberg, Sept. 13, 2020
To bolster the nation's lagging fuel industry, the Australian government announced last month that grants totaling $146 million will be issued to fund an additional 780 megaliters of onshore diesel storage. In addition, a new legislative package introduces key transport fuel reserve requirements.
Products Partners L P: Enterprise and Customers Amend Crude Oil Agreements; Enterprise Cancelling Midland to Echo 4 Pipeline
Market Screener, Sept. 9, 2020
Enterprise Products Partners L.P. announced last week it had amended agreements with several customers to use existing pipelines for its crude oil transportation, and that it was canceling its 450,000 barrel per day Midland-to-Echo 4 project to better allocate capital expenditures.
Inter Pipeline to Acquire Milk River Pipeline in Swap Deal with Plains
Market Screener, Sept. 28, 2020
Inter Pipeline Ltd. has agreed to purchase the Milk River pipeline system from a subsidiary of Plains All American Pipeline LP in exchange for 100% ownership of the Empress II and 50% ownership of the Empress V straddle plants.
Max Midstream Looking to Pull Permian, Eagle Ford Oil to New Export Terminal Between Houston, Corpus
NGI, Sept. 25, 2020
Max Midstream announced its plans for an oil export project in Port Comfort, Texas, terminating in the Calhoun Port Authority (CPA). The project would connect up to 20 million bbl a month to the newly refurbished CPA.
Harvest Ingleside pipeline shipping to Moda Ingleside Energy Center
Oil & Gas Journal, Sept. 23, 2020
Harvest Midstream Co. has commissioned two connections between its Harvest Ingleside pipeline and Moda midstream that will benefit shipper access to Moda's Energy Center at Ingleside, as well as a bi-directional connection between Ingleside and Moda's Taft terminal in Taft, Texas.
CME Brings Export Quality Crude Oil to the Water Via WTI Houston Futures
Market Screener, Sept. 25, 2020
The CME Group announced it has added dock allocation for its NYMEX WTI Houston Crude Oil futures contracts effective January 2021, allowing eligible firms to deliver between 650,000 and 850,000 barrels of light sweet crude directly onto tankers at the Enterprise Houston Ship Channel terminal.
OPEC Organization of Petroleum Exporting Cou: High-Level Remarks by OPEC Secretary General
Market Screener, Sept. 27, 2020
Addressing attendees at the G20 Energy Ministerial Meeting on September 27, OPEC Secretary General HE Mohammad Sanusi Barkindo discussed the strides made in restoring market balance and urged continued effort and vigilance amid ongoing uncertainties.
China's Dekun Energy Opens 2 Million Cubic Meters Crude Oil Storage Warehouse
Reuters, Sept. 29, 2020
Shandong Huaxin Industry and Trade Group subsidiary, Dekun Energy, has opened a bonded warehouse for crude oil with a total capacity of 2 million cubic meters in the port city of Rizhao. The new facility will make Huaxin the largest private oil storage firm in China.
Australia Cuts Its Forecast for LNG Export Revenue 35% due to...
al Khaleej Today, Sept. 28, 2020
Australia's forecast for LNG export revenues has been lowered 35% or A$3.7 billion from the June 2020 estimate, according to al Germania. A report by the Ministry of Industry, Science, Energy and Resources cites decline in oil prices and delays in the flow effects on oil-related contracts as contributing factors.