Phillips 66 to buy Unocal’s Beaumont marine terminal

Phillips 66 agreed to purchase Unocal’s 7.1-million bbl storage capacity terminal near Beaumont, Tex. The Beaumont terminal will be the largest terminal in Phillips 66’s portfolio.

The Beaumont terminal provides deepwater access and multiple interconnections with major crude oil and refined product pipelines, serving 3.6 million b/d of refining capacity. The terminal also has:

• 4.7-million bbl of crude storage and 2.4-million bbl of refined product storage.

• Two marine docks capable of handling Aframax tankers and one barge dock.

• Rail and truck loading and unloading.

Phillips 66 expects the purchase to close next quarter, following receipt of regulatory approvals. It did not disclose terms.

Enterprise Products Partners LP last month began refined products exports from its reactivated marine terminal in Beaumont (OGJ Online, May 20, 2014).

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