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Stock Market & Financial Investment News

News Breaks
June 11, 2014
16:23 EDTOILTOiltanking Partners approves Texas crude oil terminal expansion project
Oiltanking Partners announced that the board of directors of its general partner has approved an expansion project to construct new crude storage, pipelines, and dock infrastructure at its terminal in Beaumont, Texas. The multi-phase crude expansion will have a total capacity of up to 6.2M barrels of storage at a total cost of approximately $340M when all currently planned phases have been completed. The initial phase of the project is fully supported by customer commitments. The expansion project is designed to meet the growing needs of Oiltanking's customers in the Beaumont/Port Arthur market, with a current refining capacity of 1.5M barrels per day. The Partnership expects to begin delivering initial tanks to customers during 3Q15, with the balance of the tanks coming online as they are completed through 1H16.
News For OILT From The Last 14 Days
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October 17, 2014
12:19 EDTOILTOiltanking 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.

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