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What Keystone pipeline cancellation means for crude-by-rail President Joe Biden’s revocation of the March 2019 permit enabling the construction of the Keystone XL pipeline will likely result in more crude-by-rail volumes, according to industry observers. But how much volumes will increase could largely depend on the price that heavy crude oil can fetch in the global market. “The cancellation of the Keystone pipeline project was inevitable once the government changed. Despite its merits or drawbacks, it is now a deflated political football,” said Barry Prentice, University of Manitoba su...

Share: President Joe Biden's revocation of the March 2019 permit enabling the construction of the Keystone XL pipeline will likely result in more crude-by-rail volumes, according to industry observers. But how much volumes will increase could largely depend on the price that heavy crude oil can fetch in the global market. "The cancellation of the Keystone pipeline project was inevitable once the government changed. Despite its merits or drawbacks, it is now a deflated political football," said Barry Prentice, University of Manitoba supply chain management professor and former director of the ...

Local company’s shares climb 10% Shares of Delek US Holdings rose about 10 percent Wednesday after noted investor Carl Icahn named the three men he would like to see take board seats and help force through big changes at the Brentwood-based company. Icahn-controlled CVR Energy — an oil-refining peer to Delek with a slightly larger market value — last year said it wanted to buy Delek. But a few weeks ago the company said it had shifted gears and now wants a board presence to push for a strategic overhaul. CVR controls 14.8 percent of Delek’s shares, the vast majority of which it acqui...

Posted on 8372 USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Board of Directors of its general partner declared a quarterly cash distribution of $0.111 per unit for the fourth quarter of 2020 ($0.444 per unit on an annualized basis), the same amount as distributed in the prior quarter. The distribution is payable on February 19, 2021, to unitholders of record at the close of business on February 10, 2021. Fourth Quarter 2020 Earnings Release Date and Conference Call Information The Partnership plans ...

The Port Arthur terminal is expected to be completed in the second quarter of 2021 Author: Raegan Gibson, KBMT (12NewsNow) Published: 3:07 PM CST December 16, 2020 Updated: 3:07 PM CST December 16, 2020 PORT ARTHUR, Texas — Port Arthur will have dozens of new jobs in 2021 thanks the development of a new oil handling terminal. According to a news release from US Development Group, LLC., the construction process is expected to bring 1,200 jobs to Port Arthur. Once the terminal is up and running, it will provide the area with 40 more full-time j...