The 350,000 b/d Liberty Pipeline proposal, which would have moved oil from the Rockies and Bakken Shale to the Cushing Hub in Oklahoma, has been canceled by sponsor Phillips 66 Partners LP. The 24-inch diameter system from Guernsey, WY, was deferred last year as Covid-19 knocked out energy demand. The cancellation was noted in preliminary…
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Crestwood Equity Partners LP is offering incentive rates across its midstream portfolio in order to generate revenue, but management expects the natural gas liquids (NGL) storage and rail-to-truck liquid petroleum gas (LPG) terminal assets that it recently acquired to be the largest contributor to a projected 3% year/year increase in earnings this year.
Phillips 66 has set its consolidated 2020 capital budget at $3.34 billion, comprising $2.15 billion of growth capital and $1.19 billion of sustaining capital, the company said last week.
Phillips 66 is throwing its hat into the ring to develop a deepwater oil export project in South Texas to carry more Lower 48 volumes overseas.
Phillips 66 Partners and Kinder Morgan Inc. (KMI) are teaming up to offer a new route for transporting crude oil out of the Permian Basin to markets along the Gulf Coast, the companies announced Monday.
Oil has lost more than half of its relative price premium to natural gas in the past few months, with the ratio of Brent crude Henry Hub hitting its lowest level since 2009 at the end of November, but a retracement is expected in 2019, according to Barclays Research.
Phillips 66 and affiliate Phillips 66 Partners on Friday announced a suite of new crude oil pipeline projects and expansions to move growing volumes from the Rockies, West Texas, Midcontinent and Bakken shale production areas to points along the Gulf Coast.
Chevron Phillips Chemical Co. LP has introduced feedstock and begun operations of its newest ethane cracker east of Houston at the Cedar Bayou facility in Baytown.
Phillips 66 Partners LP (PSXP) is taking over a 25% stake in a Bakken Shale pipeline system and buying out a 100% interest in a refinery system owned by parent Phillips 66 in a deal valued at $2.4 billion.
Kleinschmidt Associates reported that it has entered into a strategic alliance with Tom Russo of Russo on Energy, LLC to strengthen its natural gas and oil infrastructure and environmental services offerings. The company said Russo, who spent more than 30 years as a manager and energy analyst at the Federal Energy Regulatory Commission (FERC), will complement Kleinschmidt’s natural gas energy expertise in reducing permitting schedules and associated costs while addressing the permitting, engineering and biology associated with mitigation for natural gas, oil and natural gas liquids pipelines, and liquefied natural gas clients. Russo will work with Kleinschmidt Senior Vice President Scott Ault and Senior Project Manager Kelly Schaeffer on all oil and natural gas services projects. Currently, Russo and Kleinschmidt are conducting training on the company’s Pipeline Waterbody Risk Assessment tool and FERC’s hydroelectric project relicensing in Houston and Washington, DC, respectively.