Phillips 66 Partners LP proposed raising tariff rates on its Gray Oak crude oil pipeline, which connects the Permian Basin to the U.S. Gulf Coast, according to a filing on May 19.
The company will increase all committed rates on the roughly 900,000 bbl/d line by 2% per year, the filing with the Federal Energy Regulatory Commission (FERC) said. Uncommitted rates would be assessed separately and would amount to increases of around 2%.
The uncommitted rates will be increased by the FERC index factor, while the committed rates have a contractual inflation adjustment factor.
The rates are set to take effect by July 1.
The Gray Oak pipeline is one of the biggest new pipelines connecting the Permian Basin, the nation's largest oil field, to the U.S. Gulf Coast.
It became fully operational last month after a segment was added in the Eagle Ford shale region, completing the project.
Recommended Reading
Innovative Insulation: The Future of Thermal Management
2024-12-31 - Silicone-based, spray-on coating simplifies application and improves protection for downstream assets and workers.
E&P Highlights: Dec. 16, 2024
2024-12-16 - Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
Delivering Dividends Through Digital Technology
2024-12-30 - Increasing automation is creating a step change across the oil and gas life cycle.
E&P Highlights: Jan. 27, 2025
2025-01-27 - Here’s a roundup of the latest E&P headlines including new drilling in the eastern Mediterranean and new contracts in Australia.
E&P Highlights: Jan. 21, 2025
2025-01-21 - Here’s a roundup of the latest E&P headlines, with Flowserve getting a contract from ADNOC and a couple of offshore oil and gas discoveries.