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Monday, Aug 26
Genesis Energy plans $75M crude oil rail facility
- Genesis Energy (GEL +0.7%) plans to build a crude oil train unloading facility in Louisiana that will connect to pipelines serving Baton Rouge- and St. James-area refineries.
- The facility will include more than 400K barrels of crude storage tanks and pipeline infrastructure at an estimated cost of ~$75M.
- GEL says it also is in talks to build pipelines that will allow the oil to be moved south to the Clovelly storage facility and existing pipelines connected to most refineries in southeast Louisiana.