Author Topic: Phillips 66 doubles down on pipeline growth  (Read 657 times)

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Offline Elderberry

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Phillips 66 doubles down on pipeline growth
« on: June 12, 2019, 05:39:10 pm »
Houston Chronicle by Marissa Luck and Sergio Chapa June 11, 2019

The Houston refiner Phillips 66 unveiled plans for $4.1 billion worth of pipeline projects that will vastly expand the company’s pipeline network from the Bakken shale in North Dakota to the booming Permian Basin in West Texas.

A joint venture between Houston’s Plains All American Pipeline LP and Phillips 66 will build a $2.5 billion project called Red Oak Pipeline to move crude oil from storage terminals in Cushing, Okla., to destinations in Beaumont, Houston, Corpus Christi and Ingleside. Initial service expected to begin as early as the first quarter of 2021

The Red Oak Pipeline will connect with the Sunrise Pipeline, a pipeline owned by Plains All to move more than 300,000 barrels a day of crude oil from Midland. Plains will lead project construction of the Red Oak Pipeline while Phillips 66 will operate the project.

More: https://www.houstonchronicle.com/business/article/Phillips-66-doubles-down-on-pipeline-growth-13969933.php