RBN Energy: Huge Story On Houston

RBN Energy: huge story on Houston.

Houston crude storage and distribution terminals are getting busy fast these days as a flood of new crude begins to show up from inland production basins. Crude tank storage rates in Houston are double those at Cushing. Houston is now a trading hub for light sweet crude – as witnessed by the launch of a new Platts assessment last week. The Magellan East Houston terminal is the front line receipt point for incoming crude from the Permian Basin. Today we spotlight Magellan’s expanding Houston storage and distribution facilities.

Back in January of this year (2013) we completed a multi-part series on the build out of crude oil storage and terminal facilities in preparation for the flood of new crude streams headed into Houston on pipelines this year and next. The final episode in that series provides a recap and links to all the earlier posts. In May we updated our analysis of the crude distribution network around the Enterprise Crude Houston Oil terminal (ECHO) being built out by Enterprise Product Partners. Today we turn our focus back to Magellan Midstream Partners whose crude terminal in East Houston is rapidly becoming the major distribution point for incoming crude from the Permian basin.