Pembina will provide terminaling under a 30-year fixed return agreement and a 10-year NGL mix purchase and sale agreement related to the third fractionator it’s constructing at its Redwater site.
The proposed US$500 million project would be the largest private investment in Portland, Oregon's history. Canada’s Pembina has distributed propane by rail in Oregon for 15 years.
Proposed IRS rules defining qualifying income for MLPs give needed guidance, but could be a setback for olefin-producing companies.
Rail capacity is being overwhelmed by propane shipments, which could cause the product to become competitive with resurgent gas prices.
After lifting a year-long “pause” in March on private rulings over qualifying income for MLPs, on May 6 the Internal Revenue Service released proposed rules clarifying what sorts of activity would produce qualifying income.
Phillips 66 Co. might play up its role in midstream and chemicals, but its downstream presence will remain strong, Greg Garland, chairman and CEO, said in recent annual shareholders' meeting.
Fractionator IV can handle 120,000 barrels per day. It has several long-term contracts, and it will provide off-take for Lone Star Express Pipeline, a new 533-mile, 24- and 30-inch pipeline.
Long-term agreements were executed for development of new 416-mile, 24-inch diameter pipeline to transport crude oil and condensate from company’s Midland, Texas, terminal to its Sealy storage facility near Houston.
Despite crude prices posting strong gains, NGL prices remained stagnant as supplies remain high.
Enterprise Products Partners LP entered into an agreement with an Occidental Petroleum Corp. affiliate to jointly develop a new 150 million cubic feet per day cryogenic natural gas processing plant.
The expansion adds 55,000 barrels per day to Peace Pipeline system, alleviating volume constraints and contribute to the fee-for-service-based cash flow stream, said Jason Wiun, vice president for conventional pipelines.
Energy sector not “selling cigarettes,” needs to project its powerful, positive message of raising living standards, midstream giant’s CEO tells peers.