Read the Latest News Affecting the Tank and Terminal Industry
Hartree Refining Company Completes Acquisition of Channelview Splitter and Terminal Business
FOX 40, Nov. 16
Hartree Partners, LP affiliate Hartree Refining Company, LLC completed its acquisition of the Targa Resources Corp.'s membership interests in Targa Channelview, LLC, located in Channelview, Texas. Assets of the October acquisition include a 38,000 bpd crude and condensate splitter, plus 1.3 billion barrels of crude and refined product storage..
Asphalt Materials, Inc. Expands Capabilities by Acquiring Three Midwest Terminals
Thomas Net, Nov. 13
Asphalt Materials, Inc. (AMI) announced its acquisition on November 12 of three asphalt terminals from Marathon Petroleum Corporation. The acquisition expands AMI's reach in Illinois and Indiana. AMI plans to retain the leadership team and all employees at the three sites.
Riverstone Holdings LLC Agrees to Buy International-Matex Tank Terminals from Macquarie Infrastructure Corporation
WFMZ-TV69 NEWS, Nov. 9
Riverstone Holdings LLC has entered into an agreement with Macquarie Infrastructure Corporation for the purchase of International-Matex Tank Terminals for an estimated $2.685 billion. The sale includes 19 terminals and a total storage capacity of 48 MMbbls.
Easton Energy Buys South Texas Petrochemical Pipeline System from Exxon Mobil
BIC Magazine, Nov. 12, 2020
Easton Energy has agreed to buy the South Texas Pipeline System from Exxon Mobil. The 720 miles of pipeline will connect Easton's 50 million barrel salt dome storage facility in Markham, Texas, with markets in Houston and Corpus Christi transporting oil, natural gas and refinery grade propylene among other products.
Cushing Oil Inventories Are Soaring Again
OilPrice.com, Nov. 21, 2020
Estimated to be at about 81% of its 76 million barrel capacity, crude oil inventories at the Cushing storage hub in Cushing, Oklahoma are nearing levels not seen since April 2020. According to data released by the Energy Information Administration, commercial stock capacity stood at 61.6 million barrels as of November 13.
Something Highly Unusual Just Happened to Chinese Crude Stockpiles
OilPrice.com, Nov. 17, 2020
After stockpiling crude oil at near-bottom prices in the spring, China's refiners may have drawn down 200,000 barrels during October, according to official data for oil imports and domestic production obtained by Reuters.
FACTBOX-China's Top Independent Crude Oil Storage Operators, SPR Updates
Reuters, Nov. 17, 2020
Since 2016, private Chinese refiners have been stockpiling crude oil alongside State entities, owning a significant portion of the estimated 1.6 billion barrels of crude oil in storage at the end of September.
CLH Completes Inter Terminals Sites Purchase to Become the Leading Bulk Liquid Logistics Company in Europe
Market Screener, Nov. 13, 2020
CLH has completed the acquisition of 15 liquid storage terminals in the United Kingdom, Germany, Ireland and the Netherlands, including about 2 million cubic meters of capacity in the 11 U.K facilities.
Sign O' the Times - A Tough Year For Crude Oil Slows Pipeline Development to a Crawl
RBN Energy LLC, Nov. 17, 2020
Rock-bottom crude pricing has forced producers and midstreams to pull back or cancel outright a number of major pipeline projects, which may not be enough to offset the considerable takeaway capacity estimated for 2020. Yet several have managed to move forward despite the pressures.
Oil Ends at More Than 8-Month High
Market Watch, Nov. 25, 2020
Optimism for a COVID-19 vaccine and a drop in U.S. crude inventories led oil futures to close at an 8-month high of $45.71 a barrel on the New York Mercantile Exchange November 25, the highest price since March 5.
With Election Over, Appropriations Process Resumes
The Waterways Journal Weekly, Nov. 13, 2020
Though House and Senate leaders disagree on a number of spending bills for 2021, both are committed to passing an omnibus appropriations bill which would provide $7.63 billion for the Army Corps of Engineers, with spending targeted for the Harbor Maintenance Trust Fund.
WhiteWater Midstream and MPLX LP Announce Substantial Completion of Agua Blanca Pipeline System Expansion
Fox 40, Nov. 11, 2020
Whitewater Midstream and MPLX LP announced substantial completion of their joint Agua Blanca pipeline expansion, estimating full service in early 2021. The expansion in includes a 42-inch trunk line that more than doubles capacity to more than 3 Bcf/d.
The UK Plans to Ban Sales of Diesel and Petrol Cars from 2030
CNBC, Nov. 11, 2020
The United Kingdom has announced it will stop selling new diesel and gasoline-powered cars and vans beginning in 2030 in line with Prime Minister Boris Johnson's 10-point "green industrial revolution" plan.