Buckeye will have a 50-percent interest in the terminal joint venture and will be the operator, while Phillips 66 Partners and Andeavor each will have a 25-percent ownership interest. Phillips 66 Partners subsidiary Gray Oak Pipeline LLC will launch an open season to solicit shipper commitments for long-term crude oil transportation service from West Texas on the Gray Oak Pipeline. The expansion includes new takeaway capacity from Gray Oak Pipeline reflected in such forward-looking statements are reasonable, no Crude storage space has quickly filled since the coronavirus pandemic has halted movement around the world and sharply decreased fuel demand. Following Gray Oak, the next big addition planned is the Wink-to-Webster Pipeline from West Texas to the Houston area; the project, whose capacity is said to be north of 1 MMb/d and which is slated for completion in early 2021, is being developed by a number of joint venture partners, including Plains All American and ExxonMobil. FRIENDS. The green line represents the Gray Oak Pipeline, which currently is under construction. binding transportation services agreements. That capacity could be expanded to 1 million barrels per day. The company, Gray Oak Pipeline LLC, will also be adding a new pipeline destination: Victoria County, Texas. Nuss (media), 832-765-1850dennis.h.nuss@p66.com. shipper commitments for services from West Texas. For more information, The expansion open season will commence at 12 p.m. CST on Nov. 12, 2018. Houston, TX 77242- 1959 . If all options are exercised, Phillips 66 Partners’ ownership would be 42.25 percent and Andeavor’s ownership would remain 25 percent. pipelines, terminals and other midstream assets. Smoky and The Salt Caverns - A Saga of NGL Storage: RBN's Greatest Hits, We Take Care of Our Own, Part 2 - Pemex's Struggles Bode Well for U.S. The open season will allow shippers to secure long-term crude oil transportation with Gray Oak under binding transportation services agreements. According to Bajaj, “We are very clear that our brand would never be associated with anything that we feel, beyond reasonable doubt, is a source of toxicity in our society.”. The 850-mile-long conduit will carry crude oil from the Permean Basin to a refinery in Sweeny. Both branches intersect north of Three Rivers, where a 480,000-barrel storage facility is being built. Today, we take a look at the year ahead for Permian producers. “In response to shipper demand, Gray Oak Pipeline is modifying its rules and regulations to accommodate on-system crude storage,” a Phillips 66 spokesman said in a statement. Crude storage space has quickly filled since the coronavirus pandemic has halted movement around the world and sharply decreased fuel demand. If that’s the case, and the Midland-to-Houston-area portion of Wink-to-Webster comes online this summer or fall, there could be much more than just 450 Mb/d added between Midland and the Houston market later in 2020. All forward-looking Phillips 66 PartnersJeff Dietert (investors), 832-765-2297jeff.dietert@p66.comorRosy Box 421959 . Phillips 66 Partners announces that Gray Oak Pipeline, LLC is launching a binding expansion open season to solicit shipper commitments. Chance of rain 40%.. Overcast with rain showers at times. Phillips 66 Partners is launching an open season in September to expand the new Gray Oak Pipeline by adding crude takeaway capacity and an extra … to be placed in service in the fourth quarter of 2020. The 900,000 barrel per day (bpd) Gray Oak Pipeline is one of the biggest new pipelines shipping from the Permian Basin, the largest U.S. shale basin, to delivery points at or near the Houston Ship Channel. If one or more of these In light of these Full access to the RBN Energy blog archive which includes any posting more than 5 days old is available only to RBN Backstage Pass™ subscribers. Low near 55F. factors that may have a direct bearing on the forward-looking statements We have various options to advertise with us including Events, Advertorials, Banners, Mailers, Webinars etc. You've Got Your Troubles - Is the Northeast Gas Market Headed for a Fall Meltdown? Get ETAuto's top stories every morning in your email inbox. may be beyond Phillips 66 Partners’ control. The key risk are the accuracy of our assumptions used to estimate the timing of Gray Oak Pipeline, LLC . That view is based upon still more pipeline takeaway capacity being added and ramping up in the Permian; Phillips 66 is currently in the process of bringing online its 900-Mb/d Gray Oak Pipeline. The open season will allow shippers to secure long-term crude oil transportation with Gray Oak under binding transportation services agreements. The Midland-MEH spread starts 2020 at only $2.25/bbl, and the forward curve shows that the market expects it to remain near that level throughout this year. Zuklic (investors), 832-765-2297rosy.zuklic@p66.comorDennis Follow @ETAuto for the latest news, insider access to events and more. co-venturers and associated ownership interests, and our ability to Dear user, ET Auto privacy and cookie policy has been updated to align with the new data regulations in European Union.