April 2018, Vol.245, No.4
Company News
Magellan Midstream Partners and Intercontinental Exchange
Magellan Midstream Partners and Intercontinental Exchange (ICE) launched a new auction for a portion of multi-month Permian WTI storage capacity at Magellan’s East Houston Terminal. An initial 1.5-MMbbl lease at the Magellan terminal on the ICE trading platform averaged 400,000 barrels leased per month, the companies announced. Magellan’s senior vice president of Commercial Crude Oil, Robb Barnes, said the initial storage auction may lead the way for more successful auctions and other creative options at the East Houston crude oil hub. The terminal has 8 million barrels of active capacity and the ability to further expand storage, Magellan said.
Comments