DALLAS & HOUSTON—Energy Transfer (NYSE: ET) and Phillips 66 Partners (NYSE: PSXP) announced March 26 that the second phase of the Bayou Bridge Pipeline is complete and ready for service. The 163-mile, 24-inch pipeline will transport crude oil from Lake Charles, La., to terminalling facilities outside St. James, La., beginning April 1, 2019.
The pipeline, owned 60=% by Energy Transfer and 40% by Phillips 66 Partners, is operated by Energy Transfer.
The first phase of the Bayou Bridge Pipeline went into service in April 2016, and currently transports multiple grades of crude oil through 49 miles of 30-inch pipe from Nederland, Texas, to Lake Charles, La. The second phase of the Bayou Bridge Pipeline provides Louisiana refiners with more efficient and sustainable access to North American crude oil as well as market diversification for North American producers. Additionally, the pipeline will further decrease our country’s reliance on less stable foreign sources for crude oil.
Recommended Reading
Rhino Taps Halliburton for Namibia Well Work
2024-04-24 - Halliburton’s deepwater integrated multi-well construction contract for a block in the Orange Basin starts later this year.
Keeping it Tight: Diversified Energy Clamps Down on Methane Emissions
2024-04-24 - Diversified Energy wants to educate on emission reduction successes while debunking junk science.
Solar Panel Tariff, AD/CVD Speculation No Concern for NextEra
2024-04-24 - NextEra Energy CEO John Ketchum addressed speculation regarding solar panel tariffs and antidumping and countervailing duties on its latest earnings call.
NextEra Energy Dials Up Solar as Power Demand Grows
2024-04-23 - NextEra’s renewable energy arm added about 2,765 megawatts to its backlog in first-quarter 2024, marking its second-best quarter for renewables — and the best for solar and storage origination.
Halliburton’s Low-key M&A Strategy Remains Unchanged
2024-04-23 - Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.