Phillips 66 partners with Canada’s Enbridge on US pipeline project
Phillips 66 has partnered with Canadian multinational energy company Enbridge to construct a significant US oil pipeline that will stretch from West Texas to Houston.
The two firms revealed that they would be looking to source potential customers in an open season beginning this week, with the aim of finalising the plans for the Gray Oak pipeline based upon this interest.
U.S. drilling slowdown helps boost global oil price to almost $49 a barrel
Drop in United States drilling activity causes oil price rise
“The Gray Oak Pipeline will provide producers and other shippers the opportunity to secure crude oil transportation from West Texas to the destination markets of Corpus Christi, Freeport, and Houston, Texas, with connectivity to over 3 million barrels per day (bpd) of refining capacity and multiple dock facilities capable of crude oil exports,” Phillips 66 said in a release
The firm also revealed that shippers will be able to select from a number of origination stations in the counties of Reeves, Loving, Winkler and Crane in West Texas.
Both Phillips 66 and Enbridge estimate that the Gray Oak Pipeline will have an initial throughout capacity of 385,000 bpd, depending on the interest received in during the open season.
The companies aim for the pipeline to be in operation during the second half of 2019.
- Bahrain’s GFH signs US$200mn Las Vegas real estate dealCorporate Finance
- Saint-Gobain Drives Sustainable Construction InitiativeSustainability
- Balfour Beatty Appoints New Chief Compliance OfficerLeadership & Strategy
- Digital Realty moves global HQ from San Francisco to AustinTechnology & AI