Hydrocarbon Processing Copying and distributing are prohibited without permission of the publisher
Email a friend
  • Please enter a maximum of 5 recipients. Use ; to separate more than one email address.



Phillips 66 buys Beaumont crude, product terminal

06.06.2014  | 

The Beaumont terminal is strategically located on the US Gulf Coast. It provides deep-water access with major crude oil and refined product pipelines serving 3.6 million bpd of refining capacity.

Keywords:

Phillips 66 has agreed to purchase a 7.1 million-bbl storage capacity terminal located near Beaumont, Texas, the company announced on Friday. 

The Beaumont Terminal will be the largest terminal in the Phillips 66 portfolio.

“This acquisition supports our midstream growth strategy,” said Tim Taylor, president of Phillips 66. “Given our expectations for increasing volumes of North American crude oil movements into the Gulf Coast region and growth in refined product exports, the Beaumont Terminal is well positioned to serve this growing market while providing significant expansion potential.”

The Beaumont Terminal is strategically located on the US Gulf Coast. It provides deep-water access and multiple interconnections with major crude oil and refined product pipelines serving 3.6 million bpd of refining capacity. The terminal also has:
  • 4.7 million bbl of crude oil storage capacity and 2.4 million bbl of refined product storage capacity;
  • Two marine docks capable of handling Aframax tankers and one barge dock; and
  • Rail and truck loading and unloading facilities.
The Beaumont Terminal is currently owned by UNOCAL, a member of the Chevron Group. The transaction is expected to close in the third quarter of 2014 following the receipt of regulatory approvals.

Financial terms were not disclosed.



Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Related articles

FEATURED EVENT


Sign-up for the Free Daily HP Enewsletter!

Boxscore Database

A searchable database of project activity in the global hydrocarbon processing industry

Poll

Should the US allow exports of crude oil? (At present, US companies can export refined products derived from crude but not the raw crude itself.)


65%

35%




View previous results

Popular Searches

Please read our Term and Conditions and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2014 Hydrocarbon Processing. © 2014 Gulf Publishing Company.