Oxy Selling Texas Oil Terminal and Pipeline System for $2.6 Billion

Houston Chronicle, August 9, 2018

Occidental Petroleum will sell its oil export terminal near Corpus Christi and a West Texas pipeline network for a combined $2.6 billion as the Houston oil company opts to focus on its growing production in the Permian Basin in West Texas. The Ingleside terminal can currently export about 300,000 barrels of oil a day, but ongoing expansion plans are to take it up to 750,000 bpd. The Centurion pipeline system is a large network of almost 3,000 miles of crude oil gathering and transportation pipelines extending from southeast New Mexico and across West Texas to Oklahoma. The system includes storage terminals in Midland and Cushing. 

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