Read the Latest News Affecting the Tank & Terminal Industry

Record-breaking Year for Port Houston
BOC Magazine, Dec. 21.
The Port of Houston reports TEU container numbers are up by about 16% for the year with more than 3,150,000 moving through the port by the end of November, the nineth month for double-digit TEU growth at the port.

US DOE Sets SPR Sale for Dec. 17, Approves 4.8 Million Barrels to ExxonMobil
S&P Global, Dec. 10
The Biden Administration has approved an exchange of 4.8 million barrels of Strategic Petroleum Reserve crude to ExxonMobil. The release is part of a larger plan to release 50 million barrels through 2024 in an effort to ease fuel pricing.

Construction Begins on Mississippi River’s Largest Oil Terminal
The Maritime Executive, Dec. 10
Construction on the new NOLA Oil Terminal in Plaquemines Parish, La. broke ground earlier this month. The project encompasses 158 acres on the lower Mississippi River and includes two deep-water berths able to accommodate 170,000 ton vessels.

Enterprise Completes Expansion of Acadian Natural Gas Pipeline System in Louisiana
Market Screener, Dec. 15
Enterprise Products Partners announced it has begun service along is 80-mile Gillis Lateral pipeline and will expand its existing Acadian Haynesville Extension system to service the liquified natural gas market along the Gulf Coast.

BP to Buy Out U.S. Pipeline Partnership in $723 Million Deal
Reuters, Dec. 20
In a deal valued at more than $700 million, BP will acquire the remaining 46% of its U.S. partnership BP Midstream with unitholders receiving about 0.575 BP American depository share per unit held.

About Half of U.S. Oil Pipeline Space Is Empty After Boom Time Building Spree
MSN Money, Dec. 16
Oil pipeline use in the U.S. has dropped to about half compared to 2020 amid a cooling of production and a glut of pipelines built during production surges between 2017 and 2020. The unused capacity has spurred competition in areas like the Permian Basin.