February 1, 2018 / 8:33 PM / 8 months ago

Crude volumes on BridgeTex pipeline seen up 16 pct this year -Magellan

HOUSTON, Feb 1 (Reuters) - Magellan Midstream Partners LP expects crude volumes this year to increase 16 percent on the BridgeTex pipeline to accommodate shipments of more oil from the Permian Basin of West Texas and New Mexico, the largest U.S. oilfield, to exporters and refineries on the Houston Gulf Coast area.

The pipeline, which moves crude oil from Midland and Colorado City, Texas, to East Houston, Texas, is expected to average about 315,000 barrels-per-day (bpd) compared to about 270,000 bpd all of last year, executives said on the company’s earning call on Thursday.

The pipeline was recently expanded from 300,000 bpd to a capacity of 400,000 bpd. Magellan is expanding the pipeline system again, for a new capacity of about 440,000 bpd, expected to be operational in early 2019. (Reporting by Bryan Sims; Editing by David Gregorio)

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