Enterprise to Implement Additional Crude Oil Quality Specifications at Cushing Terminal
December 14 2017 - 5:31PM
Business Wire
Enterprise Products Partners L.P. (NYSE: EPD) today announced
that it will adopt five new quality specifications for sweet crude
oil, also referred to as West Texas Intermediate (“WTI”) at its
terminal in Cushing, Oklahoma. Enterprise’s Cushing terminal is a
physical delivery point for NYMEX WTI futures.
“We are pleased to offer an expanded quality assurance program
which is consistent with the standards required by our producing
and refining customers, both domestic and international,” said
Brent Secrest, senior vice president, Liquid Hydrocarbons
Marketing, for Enterprise’s general partner. “The new
specifications will enhance stability, predictability and integrity
for the WTI crude oil stream, which can be delivered against the
NYMEX WTI futures contract at Cushing.”
The five additional quality parameters include tests for
distillation, vanadium, nickel, total acid number (TAN) and micro
carbon residue. The new WTI quality specifications are expected to
take effect starting with the January 2019 delivery month.
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 50,000 miles of pipelines; 260 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 and its general partner expect, believe or anticipate
will or may occur in the future are forward-looking statements.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from expectations, 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 Enterprise’s reports filed with
the Securities and Exchange Commission. 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/20171214006448/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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