Line Fill Commences in Gray Oak Crude Pipeline
Line fill and commissioning activities have started on the 900K b/d Gray Oak Pipeline which connects the Permian and the Eagle Ford Basins to the Texas Gulf Coast, Phillips 66 announced. The company, which owns a 42.25% interest in the joint venture, said it expects initial service on the system to begin in November and full service in the 1Q2020. The pipeline will connect to multiple terminals in the Corpus Christi area, including the South Texas Gateway Terminal, which is scheduled to start-up in mid-2020 and will be equipped with two deep-water docks.
By early afternoon in London, ICE Brent was trading at $61.46/bbl, down $0.56/bbl from the end of last Friday’s trading.