FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo
January 30, 2019
(Reuters) – Exxon Mobil Corp, Plains All American Pipeline and Lotus Midstream LLC said on Wednesday they will build a Texas crude pipeline that can carry more than 1 million barrels per day of oil and condensates.
The Wink-to-Webster pipeline will connect the Permian Basin in West Texas to the Texas Gulf Coast, and comes when booming production has led to tight pipeline capacity in the lucrative shale basin, resulting in lower prices for regional crude.
Pipeline operator Plains will lead the construction of the pipeline, which will start operations in the first half of 2021, the companies said.
(Reporting by John Benny in Bengaluru; Editing by Sriraj Kalluvila)