Skip to main content

ExxonMobil acquires crude oil terminal

Published by
Hydrocarbon Engineering,


Exxon Mobil Corp. has acquired a crude oil terminal from Genesis Energy LP.

The terminal is located in the rapidly growing Delaware Basin, part of the Permian Basin. It is strategically positioned to handle Permian Basin crude oil and condensate for transport to Gulf Coast refineries and marine export terminals.

The facility is interconnected to the Plains Alpha Crude Connector pipeline system, and is permitted for 100 000 bpd of throughput with the ability to expand.

Gerald Frey, President of ExxonMobil Pipeline Co., said: “The terminal provides crude producers with a full range of logistical options including truck, rail and inbound and outbound pipeline access, not only for ExxonMobil’s production, but for all Permian Basin producers […] It also provides shippers with efficient and cost-effective access to market destinations in the Gulf region.”

This acquisition marks ExxonMobil’s first terminal in the Permian Basin to be anchored by the corporation’s newly acquired Delaware Basin acreage, previously announced in January.

Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/23102017/exxonmobil-acquires-crude-oil-terminal/

 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

ExxonMobil news