HP Brief: Brief
Bakken oil destined for New JerseyPhillips 66 has signed a five-year contract to use Global Partners LPs rail transloading, logistics and transportation system to deliver crude oil from the Nort..
Bakken oil destined for New Jersey
Phillips 66 has signed a five-year contract to use Global Partners LPs rail transloading, logistics and transportation system to deliver crude oil from the North Dakota Bakken region to the Phillips 66 Bayway refinery in New Jersey. The terms of the contract include a take-or-pay commitment from Phillips 66 to receive approximately 91 million barrels of crude oil over the contract term, which equates to approximately 50,000 bpd. The contract will utilize Globals network of loading facilities and offloading terminals. Phillips 66 is one of the first energy companies to move shale crude to the East Coast. Last year, the company expanded its capab
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