Phillips 66 cancels 400,000 b/d red Oak Pipeline from Cushing to Texas gulf Coast

摘要

Houston—Phillips 66 said Oct. 30 it has canceled plans for the 400,000 b/d Red Oak Pipeline that would have moved crude oil from the Cushing, Oklahoma, storage hub to Texas export and refining hubs near Corpus Christi, Houston and Beaumont. The $2.5 billion pipeline project was deferred early on during the coronavirus pandemic as energy companies moved quickly to slash capital spending costs. But while the proposed Liberty Pipeline from Wyoming to Cushing remains deferred by Phillips 66, the Red Oak Pipeline is now officially dead.