Enterprise Contracts Its First Export of U.S. Crude Oil
December 23 2015 - 10:21AM
Business Wire
Enterprise Products Partners L.P. (NYSE:EPD) today announced
that it has agreed to provide pipeline and marine terminal services
to load its first export of crude oil produced in the United States
under the law enacted earlier this month. The 600,000 barrel cargo
of domestic light crude oil is scheduled to load at the Enterprise
Hydrocarbon Terminal (EHT) on the Houston Ship Channel during the
first week of January 2016.
“We are excited to announce our first contract to export U.S.
crude oil, which to our knowledge may be the first export cargo of
U.S. crude oil from the Gulf Coast in almost 40 years,” said A.J.
“Jim” Teague, chief operating officer of Enterprise’s general
partner. “Enterprise’s integrated system enabled us to quickly
respond to customer demand for U.S. crude oil by international
markets.”
“We applaud the actions of Congress and President Obama to
remove the ban on U.S. crude oil exports,” stated Teague. “This law
facilitates economic growth and job creation for the United States
as well as enhances our national and energy security. This action
provides new markets to domestic producers, especially producers of
light crude oil, and will provide global markets with supply
diversification.”
Enterprise Products Partners L.P. is one of the largest publicly
traded partnerships and a leading North American provider of
midstream energy services to producers and consumers of natural
gas, NGLs, crude oil, refined products and petrochemicals. Our
services include: natural gas gathering, treating, processing,
transportation and storage; NGL transportation, fractionation,
storage and import and export terminals; crude oil gathering,
transportation, storage and terminals; petrochemical and refined
products transportation, storage and terminals; and a marine
transportation business that operates primarily on the United
States inland and Intracoastal Waterway systems. The partnership’s
assets include approximately 49,000 miles of pipelines; 225 million
barrels of storage capacity for NGLs, crude oil, refined products
and petrochemicals; and 14 billion cubic feet of natural gas
storage capacity.
This press release includes “forward-looking statements” as
defined by the Securities and Exchange Commission. All statements,
other than statements of historical fact, included herein that
address activities, events, developments or transactions that
Enterprise expects, believes or anticipates will or may occur in
the future, including anticipated benefits and other aspects of
such activities, events, developments or transactions, are
forward-looking statements. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially, including required approvals by regulatory
agencies, the possibility that the anticipated benefits from such
activities, events, developments or transactions cannot be fully
realized, the possibility that costs or difficulties related
thereto will be greater than expected, the impact of competition
and other risk factors included in the reports filed with the
Securities and Exchange Commission by Enterprise. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of their dates. Except as required
by law, Enterprise does not intend to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20151223005435/en/
Enterprise Products Partners L.P.Randy Burkhalter, (713)
381-6812 or (866) 230-0745Investor RelationsorRick Rainey, (713)
381-3635Media Relations
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