|January 7, 2014|
|07:31 EDT||EPD, OILT||Enterprise to expand LPG export facility at Oiltanking on Houston Ship Channel|
Enterprise Products Partners L.P. (EPD) announced a further expansion of its liquefied petroleum gas export terminal at Oiltanking’s complex on the Houston Ship Channel. Enterprise’s expanded LPG terminal is supported by a 50-year service agreement with Oiltanking Partners, L.P. (OILT) to provide additional dock space and related services. The expanded LPG export terminal is expected to be in service by the end of 2015 and is supported by long-term LPG export agreements. Upon completion of the expanded facilities, Enterprise will have aggregate capacity to load in excess of 16 million barrels per month of low-ethane propane and/or butane. This expansion is in lieu of a second LPG terminal announced in October 2013 and will result in more capacity than previously anticipated.
News For EPD;OILT From The Last 14 Days
Check below for free stories on EPD;OILT the last two weeks.
|March 5, 2014|
|17:05 EDT||EPD||Enterprise Products to oppose verdict in pipeline case|
Enterprise Products Partners (EPD) announced that it intends to oppose any judgment based on yesterday’s verdict by a Dallas jury which ruled against the company in a lawsuit filed by Energy Transfer Partners (ETP) over a proposed pipeline project that was cancelled in August 2011 due to a lack of customer support. In April 2011 both Enterprise and Energy Transfer signed a non-binding letter of intent disclaiming any partnership or joint venture absent executed definitive documents and board approvals of the two companies. Definitive agreements were never executed and board approval was never obtained for the potential pipeline project. As a result, the jury found that Energy Transfer was wrongfully excluded from a subsequent pipeline project that was to transport crude oil from Oklahoma to the Gulf Coast, and awarded Energy Transfer $319M in actual damages. A judgment has not yet been entered in this case. Enterprise does not believe that the verdict is supported by the evidence or the law and will promptly seek to reverse those findings.
|13:59 EDT||OILT||Capital Link to hold a forum|
Master Limited Partnership Investing Forum is being held in New York on March 6.
|March 4, 2014|
|16:39 EDT||OILT||Oiltanking Partners CEO Anne-Marie Ainsworth resigns|
Oiltanking Partners announced that Kenneth F. Owen has been appointed as President and CEO of the Partnership's general partner effectively immediately. Mr. Owen will also serve on the Board of Directors of its general partner. Anne-Marie Ainsworth has resigned as President, CEO and member of the Board of Directors of its general partner.
|February 24, 2014|
|16:21 EDT||OILT||Oiltanking Partners reports Q4 EPS 69c, consensus 71c|
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