Exxon to lease 2 SPR pipelines

The U.S. Department of Energy has signed a contract leasing two pipelines from its Bryan Mound, Tex., Strategic Petroleum Reserve site to Exxon Pipeline Co. A 40-in., 46-mile line extends to the ARCO Pipeline Co. tank farm at Texas City, and a 30-in., 4-mile pipeline extends to the nearby Jones Creek tank farm. DOE said the deal could bring in $25 million to the U.S. Treasury over 15 years. The contract has a provision for allowing the lease fees to be paid in crude that would be added to the SPR's 561 million bbl inventory. And because Exxon will assume operation of the lines, DOE will save more than $300,000/year in pipeline maintenance fees. The pipelines will give...

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