Enterprise, Enbridge Plan Cushing-Houston Pipeline |
| Wall Street Journal - Sep 29, 2011 |
Enterprise Products Partners LP and Enbridge Inc. are planning what could be the largest pipeline connecting the oil-storage hub of Cushing, Okla., to refiners on the Gulf Coast, the companies said Thursday.
The new pipeline project would be the third plan in existence to connect the Texas refining industry to Cushing, where a supply glut has grown amid a U.S. inland-oil-production boom. For Enterprise, it would replace its failed Double-E project, a proposed 450,000-barrel-a-day pipeline to connect Houston to Cushing that fell apart in August because of insufficient commercial interest.
The race to be the first to connect Cushing with refiners in Houston has intensified as the price of oil stored in Oklahoma has dropped to about $20 a barrel below that of crude oil elsewhere. Refiners seeking a raw-material price advantage are willing to pay for access to the glut of crude in Cushing.
Read Full Article from Wall Street Journal
- Posted: 2011-09-29 11:41:22
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