- Enterprise Products Partners (EPD) says it plans to start its Seaway pipeline expansion as early as May, more than doubling the system’s capacity to move oil from the delivery point for West Texas crude in Cushing, Okla., to Gulf coast refineries.
- EPD, which operates Seaway and co-owns it with Enbridge (ENB), had said it would start late in Q2.
- EPD is looping the existing line with a parallel pipeline that will increase capacity to the Houston area to 850K bbl/day; EPD and ENB reversed the pipeline in May 2012 and expanded it to the current capacity of 400K bbl/day in Jan. 2013.
- A further loosening of the crude storage bottleneck at Cushing as the Seaway expansion is brought online could push WTI prices closer to Brent prices.
- ETFs: USO, OIL, UCO, SCO, DTO, DBO, BNO, CRUD, USL, UWTI, DNO, DWTI, SZO, OLO, OLEM, TWTI
From other sites
at CNBC.com (Feb 12, 2015)
at Nasdaq.com (Jan 27, 2015)
at Nasdaq.com (Jan 15, 2015)
at CNBC.com (Jan 13, 2015)
at MarketWatch.com (Jan 8, 2015)
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