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Permian Leads U.S. in Crude Growth as Pipelines Struggle to Keep Up
Industry Segment: Pipelines | Word Count: 464 Words
SUGAR LAND--February 8, 2018--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. has added 1 million barrels per day (BBL/d) of crude oil production in the past year, according to data from the U.S. Energy Information Administration (EIA), and the Permian Basin accounts for 70% of that growth. As production grows, developers need pipelines to move their product to market. While pipeline construction cannot be precisely synchronized with increased production, the announced projects reflect confidence among producers that development will continue in the Permian region.
Within this article: The current outlook for pipeline projects in the U.S. Gulf Coast area, including those from major companies such as Enterprise Products Partners (NYSE:EPD), Sunoco Logistics Partners, Energy Transfer Partners (NYSE:ETP), Phillips 66 (NYSE:PSX) and Buckeye Partners (NYSE:BPL).
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