Oiltanking 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.
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