TransCanada to build Cushing storage by year-end
NEW YORK Oct 15 (Reuters) - TransCanada Corp will complete construction of tank and storage facilities at the key Cushing, Oklahoma, oil storage hub late this year as part of its project for the southern leg of the Keystone XL pipeline, the company said on Tuesday.
In a press release highlighting job opportunities created by the project, the Canadian company reiterated its plan to bring the Keystone southern pipeline to commercial service at the end of 2013.
TransCanada plans to build 7 crude oil storage tanks with a total capacity of 2.25 million barrels at Cushing, according to permit applications filed with the Oklahoma Department of Environmental Quality.
The pipeline will ship 700,000 barrels per day of U.S. and Canadian oil from Cushing to Nederland, Texas, when it starts operating. Its capacity can expand to 830,000 bpd.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.