- TheStreet.com•last year
The following Enterprise Products Partners (EPD) conference call took place on April 30, 2015, 10:00 AM ET. This is a transcript of that earnings call:
- Bloomberg•2 years ago
While not nearly as famous as giant oil producers like Exxon Mobil Corp. and Royal Dutch Shell Plc, storage companies including Vopak NV, Kinder Morgan Inc., Oiltanking GmbH and Magellan Midstream Partners LP are among those benefiting from rising demand for onshore tanks -- and higher prices to rent limited space. “Storage is king,” said Jean Francois Lambert, global head of commodity finance at HSBC Holdings Ltd. in London. Driven by record production from shale fields, the oil glut is bigger in the U.S. than any other region, and particularly large around the hub of Cushing, the Oklahoma town that calls itself the “pipeline crossroad of the world.” The International Energy Agency anticipates that total U.S. stocks levels, already at a 80-year high of 459 million barrels, may soon test the limits of the country’s tank capacity.
- Reuters•2 years ago
BP Plc exported nearly 670,000 barrels of minimally processed super-light crude oil from the Houston Ship Channel more than a week ago, according to ClipperData, an industry firm that tracks crude movements. The 667,638-barrel cargo left Enterprise Products Partners' ship channel docks - part of the company's recent $4.41 billion acquisition of Oiltanking Partners LP - on Feb. 15 bound for Rotterdam in The Netherlands, ClipperData partner Abudi Zein said in an interview. BP declined comment on the shipment or whether the company is among several companies that received U.S. government approval to export condensate that has undergone enough processing to qualify as a refined product. The loosening of the decades-old crude export ban opens export avenues for producers as domestic refiners and petrochemical companies have limited demand for such light oil.
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