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Energy Transfer Partners, L.P. Message Board

  • hbiittner hbiittner Jan 23, 2013 5:00 PM Flag

    Why the drop in Oil and gas pipeline stocks today?

    Any event I missed that the sector traded lower today that i missed?

    Sentiment: Buy

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • That the sector was up for 13 out of the last 14 trading days. Nothing goes straight up. People take profits.

    • Seaway capacity restricted-no mention of why or how long

      Enterprise Products Partners LLP (EPD) cut the amount of oil its Seaway pipeline was delivering to Jones Creek, Texas, by more than half because the delivery point has reached full capacity, the company said in a note to shippers Wednesday.

      The Seaway pipeline would reduce deliveries to 175,000 barrels a day to the delivery point 7 miles west of Freeport, Texas. The 400,000 barrel-a-day pipeline brings crude oil from the Cushing, Okla., storage hub to the Houston refining belt.

      Enterprise said the Jones Creek delivery point was experiencing "unforeseen constraints in outbound takeaway." Enterprise, which owns the pipeline with Enbridge Inc. (ENB), told shippers they must deliver barrels at another delivery point or reduce the amount of oil they ship.

 
ETP
56.56+0.11(+0.19%)Jul 11 4:02 PMEDT

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