By OGJ editors
HOUSTON, Jan. 22 -- Plains All American Pipeline LP, Houston, expects to complete in the third quarter of this year a 1.1 million bbl expansion of its crude oil storage and terminal facility in Cushing, Okla. The $10 million, Phase IV expansion will expand the facility's total capacity to 6.3 million bbl.
The Cushing terminal stores and segregates many varieties of both domestic and foreign crude oil. Upon completion of Phase IV, it will consist of sixteen 270,000 bbl tanks, four 150,000 bbl tanks, fourteen 100,000 bbl tanks, and a manifold and pumping system capable of handling as much as 800,000 b/d of crude oil throughput.
Cushing is the official designated delivery location for crude oil futures contracts traded on the New York Mercantile Exchange.