The Briefing Room
General Category => Science, Technology and Knowledge => Energy => Topic started by: Elderberry on August 08, 2019, 09:09:42 pm
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Houston Chronicle by Jordan Blum Aug. 7, 2019
Plains All American said it completed its Cactus II oil pipeline from West Texas to the Corpus Christi area and added new partners to develop another major Permian pipeline project to move crude to Houston.
These projects are each considered major steps toward relieving the pipeline shortage woes in the booming Permian Basin. Many companies have slowed their activity or turned to trucking crude because of a shortage of pipelines to carry oil across the state to the major refining and port hubs in Houston and Corpus Christi.
The $1.1 billion, 515-mile Cactus II project will start partially flowing crude oil next week and become fully operational in the first quarter of 2020, said Plains Chief Executive Willie Chiang during the company’s earnings call late Tuesday.
More: https://www.houstonchronicle.com/business/article/Plains-completes-Cactus-II-pipeline-adds-14288880.php (https://www.houstonchronicle.com/business/article/Plains-completes-Cactus-II-pipeline-adds-14288880.php)
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The discount of WTI compared to Brent has spread with the landlocked production growth versus the price on the water.
(https://marketrealist.imgix.net/uploads/2019/07/image007-4.png)
https://marketrealist.com/2019/07/brent-wti-spread-could-impact-us-oil-exports/