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Enterprise Products and Oiltanking Partners Announce Merger Agreement
Enterprise Products Partners L.P. (NYSE:EPD, “Enterprise”) and Oiltanking Partners, L.P. (NYSE:OILT, “Oiltanking Partners”) announced today that Enterprise and Oiltanking Partners have entered into a merger agreement. Under the terms of the merger agreement, Oiltanking Partners would merge with a subsidiary of Enterprise in a unit-for-unit exchange. Unitholders of Oiltanking Partners (other than Enterprise and its subsidiaries) would receive 1.3 Enterprise common units for each Oiltanking Partners common unit. This exchange ratio represents a 5.6 percent premium to Oiltanking Partners unitholders based on the respective closing prices for Enterprise and Oiltanking Partners common units on September 30, 2014, the day before the merger was originally proposed. Relative to the respective closing prices for Enterprise and Oiltanking Partners common units on November 10, 2014, the day before the parties entered into the merger agreement, the 1.3 exchange ratio represents a 10.4 percent premium to Oiltanking Partners unitholders. Based on the latest cash distribution declared by Enterprise and Oiltanking Partners with respect to the third quarter of 2014, this exchange ratio would result in a 74 percent increase in cash distributions for Oiltanking Partners unitholders.

date.png14 Nov 2014 06:46 | comments.png 0 Comments | tags.png enterprise n-america storage usa [ More ]

Enterprise to Expand LPG Export Facility at Oiltanking on Houston Ship Channel
Enterprise Products Partners L.P. (NYSE: EPD) today announced a further expansion of its liquefied petroleum gas (“LPG”) export terminal at Oiltanking’s complex on the Houston Ship Channel. Enterprise’s expanded LPG terminal is supported by a 50-year service agreement with Oiltanking Partners, L.P. (NYSE: OILT) to provide additional dock space and related services. The expanded LPG export terminal is expected to be in service by the end of 2015 and is supported by long-term LPG export agreements. Upon completion of the expanded facilities, Enterprise will have aggregate capacity to load in excess of 16 million barrels per month of low-ethane propane and/or butane. This expansion is in lieu of a second LPG terminal announced in October 2013 and will result in more capacity than previously anticipated.

date.png11 Jan 2014 16:29 | comments.png 0 Comments | tags.png enterprise lpg n-america oiltanking storage usa [ More ]

Calumet Specialty Products Partners, L.P. Announces Feasibility Study for Crude Oil Shipping
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet") announced it will explore the feasibility of building and operating a crude oil loading dock on Lake Superior, near its Superior, WI refinery, designed to load ships with heavy Canadian and light Bakken crude oil for shipment through connecting waterways.

date.png25 Jan 2013 18:11 | comments.png 0 Comments | tags.png calumet pipelines storage top usa [ More ]

Puma Energy Acquires Liquefied Petroleum Gas Terminal in Benin
Puma Energy International ("Puma Energy") has completed the acquisition of 100% of the issued share capital of Soagel SA ("Soagel"). Soagel owns a newly built 5000m3 liquefied petroleum gas ("LPG") terminal in the port of Cotonou, Benin.

date.png20 Apr 2012 08:16 | comments.png 0 Comments | tags.png africa benin lpg storage trafiga [ More ]

CB&I Announces Storage Award in Canada
CB&I (NYSE:CBI) announced today that it has been awarded a contract, valued in excess of US$55 million, by [Trans Mountain Pipeline ULC] operated by a subsidiary of a Canadian subsidiary of Kinder Morgan. The scope of the contract includes the design, fabrication and construction of storage tanks and associated works for the Trans Mountain Pipeline ULC's terminal located in Sherwood Park, Alberta, Canada. The project is scheduled for completion in 2013. This is a first quarter 2012 award.

date.png20 Apr 2012 05:34 | comments.png 0 Comments | tags.png canada cbi kinder-morgan n-america storage [ More ]

ATB Terminal, Tanjung Bin, Malaysia, Receives First Cargo
On April 10th, the ATB oil terminal in the Port of Pelepas, Tanjung Bin, owned and operated by VTTI, the 50/50 joint venture between Vitol and the Malaysian maritime conglomerate MISC received its first oil tanker alongside their deep draft jetty facilities. The MT “Kition”, a 100,000 DWT tanker has safely and successfully discharged at ATB's VLCC berth. The receipt of the first Fuel oil cargo from the MT Kition represents a significant milestone for the ATB oil terminal, offering new storage and logistics opportunities for petroleum products in the Singapore region at competitive rates.

date.png13 Apr 2012 11:43 | comments.png 0 Comments | tags.png asia malaysia storage vitol [ More ]

Tesoro Corporation Contributes Martinez Crude Oil Marine Terminal To Tesoro Logistics
Tesoro Corporation (NYSE:TSO) and Tesoro Logistics LP (NYSE:TLLP) today announced that Tesoro Corporation ("Tesoro") has contributed the Martinez Crude Oil Marine Terminal located in Martinez, California to Tesoro Logistics LP ("the Partnership") for total consideration of $75 million, effective April 1, 2012.

date.png02 Apr 2012 15:05 | comments.png 0 Comments | tags.png n-america storage tesoro usa [ More ]

Kinder Morgan to Further Increase Storage Capacity at Edmonton Terminal
Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced that Kinder Morgan Canada Terminals has entered into a long-term contract with a major Canadian producer to support the construction of an additional 1.2 million barrels of merchant storage capacity at Trans Mountain pipeline's Edmonton terminal in Strathcona County, Alberta. Kinder Morgan previously announced in November 2011 that it had signed definitive commercial agreements to support the construction of 2.4 million barrels of storage at the Edmonton facility. The total value of the current expansion now totals $284 million with all 3.6 million barrels of storage capacity expected to be in service by late 2013.

date.png28 Mar 2012 14:17 | comments.png 0 Comments | tags.png canada engineering kinder-morgan n-america storage [ More ]

TransCanada Launches Binding Open Season for Keystone Hardisty Terminal
TransCanada Corporation (TSX, NYSE: TRP) (TransCanada) today launched an open season to obtain binding commitments from interested parties for the Keystone Hardisty Terminal, which will be located at the major crude oil terminal hub in Hardisty, Alberta.

date.png02 Mar 2012 11:24 | comments.png 0 Comments | tags.png canada pipeline storage transcanada [ More ]

Gazprom commences large UGS facility construction
Today Gazprom has commenced the Bednodemyanovskoye underground gas storage (UGS) facility construction.

date.png14 Nov 2011 08:37 | comments.png 0 Comments | tags.png gas gazprom russia storage [ More ]
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