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News Breaks February 4, 2013 07:33 EDT GEL, XOM Genesis Energy announces expansion of Gulf Coast terminal infrastructure Genesis Energy, L.P. (GEL) plans to invest approximately $125M to improve existing assets and develop new infrastructure in Louisiana to connect into Exxon Mobil Corporation’s (XOM) Baton Rouge Refinery, one of the largest refinery complexes in North America with more than 500,000 barrels per day of refining capacity. The project is expected to generate positive economic benefits both for the community of Baton Rouge and the state of Louisiana. Genesis will improve its existing terminal at Port Hudson, Louisiana and build a new 18 mile 20” diameter crude oil pipeline connecting Port Hudson to the Maryland Terminal and continuing downstream to the Anchorage Tank Farm. The company also plans to build a new crude oil unit train facility at the Baton Rouge Maryland Terminal. At Port Hudson, Genesis will construct approximately 200,000 barrels of storage capacity to complement its 216,000 barrels of existing tank capacity and make improvements to its existing barge dock and truck station. Project construction is scheduled to begin in early 2013. The Port Hudson upgrades and new crude oil pipeline are expected to be completed by the end of 2013 and the Maryland Terminal completion is scheduled for 2Q14. News For GEL;XOM From The Last 14 Days Check below for free stories on GEL;XOM the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. June 18, 2013 07:13 EDT XOM U.S. oil exports highest in 30 years, Bloomberg reports Subscribe for More Information 06:04 EDT XOM Energy firms may look to courts over U.S. natural gas exports, Reuters reports Subscribe for More Information June 14, 2013 08:06 EDT XOM LNG trade declined in 2012, FT reports Subscribe for More Information June 13, 2013 14:29 EDT XOM U.S., Arkansas file joint complaint against Exxon for Pegasus spill Subscribe for More Information 07:09 EDT XOM U.S. crude oil production surged 14% in 2012, WSJ reports U.S. crude oil production grew by over 1M barrels a day last year, the largest increase in the world and the largest in U.S. history. In the latest sign of the shale revolution remaking world energy markets, crude production in the U.S. jumped 14% last year to 8.9M barrels a day, according to the newly released Statistical Review of World Energy, published by BP, reports the Wall Street Journal.Reference Link June 11, 2013 19:21 EDT XOM Rosneft, ExxonMobil finalize Arctic research agreements Subscribe for More Information 12:15 EDT XOM EIA sees Brent crude to average $102/barrel over 2H, $100/barrel in 2014 In its updated short-term energy outlook, the U.S. Energy Information Administration expects Brent crude oil spot price to average $102 per barrel over 2H, and $100 per barrel in 2014. EIA expects the price of regular gasoline will average $3.53 per gallon over the summer driving season. The annual average regular gasoline retail price is projected to decline from $3.63 per gallon in 2012 to $3.49 per gallon in 2013 and to $3.37 per gallon in 2014. Reference Link 10:09 EDT XOM Exxon Mobil in talks for stake in Turkey's Black Sea block, Reuters reports Subscribe for More Information 07:38 EDT XOM OPEC: Stronger oil demand growth in second half of 2013, Reuters reports OPEC said the world's oil demand will grow faster in the rest of 2013 than during the first half due to economic recovery and higher seasonal consumption, reports Reuters. Reference Link June 6, 2013 05:51 EDT XOM Stocks with implied volatility movement; WM XOM Subscribe for More Information June 5, 2013 06:13 EDT XOM Nordic American Tanker awarded 2 year contract by Exxon Mobil subsidiary Orion Tankers, a 100% owned subsidiary of Nordic American Tankers, and acting as agents for NAT, has recently renewed its commercial agreement with a subsidiary of ExxonMobil. Cementing a long term relationship between the parties, the contract provides for a firm 2 year extension to the initial one year agreement that took effect May 2012. This new contract demonstrates the oil major's continued faith in NAT's sound financial position and validates management's dedication to safety and to quality operations of its large, high standard suezmax fleet. Typically, a suezmax tanker is carrying one million barrels of crude oil. The contract, which is based upon spot suezmax rates at any given time, has provisions for a world wide service. Given the present market conditions, it is of utmost importance that NAT continues to enjoy access to cargoes as outlined in the agreement. 06:05 EDT XOM Orion Tankers renews comercial agreement with Exxon Mobil subsidiary Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.