Oil prices rose above $104/bbl to their highest level in 2½ years as traders worried over fighting in Libya near the key oil export terminal of Ras Lanuf as well as the ports of Brega and Zueitina.

Kinder Morgan Energy Partners LP (KMEP) and Watco Cos. LLC will build and operate several rail facilities in key markets for loading and unloading crude oil, along with other commodities and products tied to the oil and gas industry.

Piracy in the Indian Ocean is rapidly getting out of control and is threatening to disrupt flows of oil to markets in the US and around the world, according to an oil shipping industry association.

NuStar Energy LP has closed on a joint venture with Turkish companies S-Oil and Aves giving NuStar majority ownership and operational control of two petroleum terminals in Turkey.

Itochu Corp. has won an order to supply four Aframax tankers to a subsidiary of Venezuela’s Petroleos de Venezuela SA (PDVSA) and has commissioned Sumitomo Heavy Industries to build the vessels.

Enterprise Products Partners LP added about 2 million bbl of underground storage capacity for motor gasoline and distillates at Mont Belvieu, Tex., as part of a program to enhance service capabilities across its refined products network.

Enterprise Products Partners LP plans to construct a crude oil storage facility, the Enterprise Crude Houston terminal, and associated pipelines to provide refiners in the Houston area with access to growing production from the Eagle Ford shale play in South Texas.

Indonesia’s state-owned Perusahaan Gas Negara has awarded a project management contract for a floating LNG terminal to Foster Wheeler AG’s global engineering and construction group.