• 3 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 6 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 11 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 14 minutes Democrats through impeachment process helped Trump go out of China deal conundrum. Now Trump can safely postpone deal till after November 2020 elections
  • 4 hours Shale Oil Fiasco
  • 40 mins Everything you think you know about economics is WRONG!
  • 5 hours READ: New Record Conoco Eagleford Vintage 5 wells, their 5th generation Test Wells . . Shale going bust . . . LAUGHABLE
  • 3 hours Judiciary impeachment: Congressman says Sean Misko, Abigail Grace and unnamed 3rd (Ciaramella) need to testify.
  • 22 hours Quotes from the Widowmaker
  • 4 hours Offshore is changing
  • 2 days Aramco to Drop $133B on Drilling over Decade
  • 17 hours You long it you short it it is Here for a long time since Trump signed it
  • 27 mins Tesla Launches Faster Third Generation Supercharger
  • 19 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 24 hours Global Debt Worries. How Will This End?
  • 23 hours IEA predicts oil demand will grow annually at 1 million barrels a day for the next 5 years
The Next Major Middle East Oil IPO

The Next Major Middle East Oil IPO

Oman Oil Company could become…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

TransCanada To Construct 6.2 Million Barrel Crude Storage Site In Cushing

Oil Storage

TransCanada will construct 6.2 million barrels of new crude oil storage capacity in Cushing, Oklahoma, according to an official announcement on Monday.

The Calgary-based company has contracted with M2 Infrastructure LLC, affiliated with U.S.-based Lone Star Capital, for the project, which allows for an optional storage expansion of up to 20 million barrels in the future, Reuters reported.

TransCanada is committed to developing energy infrastructure solutions in the United States and Canada and pursuing this opportunity fits well in our plans to provide enhanced flexibility to our customers,said Paul Miller, TransCanada’s executive vice-president and president, Liquids Pipelines.

TransCanada will manage and operate the facility, which will be located in the American energy storage center and the “most active crude oil trading hub in the world.” Construction will begin in late 2017, M2 said.

We are excited to continue transforming the way midstream operators bring efficiencies to their clients,” said J. Robert Collins, Jr., co-founder and Manager of M2 Infrastructure “This project’s unique position in Cushing, combined with the innovative excellence of Matrix, should provide the lowest cost, highest throughput, most liquid and most connected storage solution in the midcontinent – eliminating costly limitations of alternative storage programs.

In the United States, TransCanada is most known for its backing of the Keystone XL pipeline. In February, the company said it had filed an application with the Nebraska Public Service Commission (PSC) to gain approval for the pipeline to pass through the state, in a largely expected move since President Trump gave the green light to the project at the federal level last month.

The PSC process is the clearest path to achieving route certainty for the project in Nebraska and is expected to conclude in 2017,” TransCanada said in its statement.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Kr55 on March 15 2017 said:
    Can expect more and more storage to be build as reliance on imports from sea decreases. In fact, >100M of the increased storage in EIA and API reports these last couple years is oil that is in new pipelines and hubs needed to keep lines full. Not actually oil that can be used commercially. It's necessary to build up this domestic storage now to ensure refiners can be reliably supplied, because it is replacing the constant flow of tankers that they were able to depend on before.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play