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.
Enterprise Products extends open season for Bakken-to-Cushing pipeline Enterprise Products Partners announced that the binding open commitment period to determine shipper demand for capacity on a proposed new crude oil pipeline from the Williston Basin of North Dakota to the Cushing hub in Oklahoma has been extended until 5 p.m. CST, November 14.
Oiltanking Partners increases quarterly dividend by 4.8% to 27.25c Oiltanking Partners announced that the board of directors of its general partner declared an increase in the quarterly cash distribution to 27.25c per unit for Q3. This distribution represents a 4.8% increase over the 26c per unit distribution declared with respect to Q2. The quarterly distribution will be paid on November 14 to unitholders of record as of the close of business on November 3.