According to a story published Monday in the Houston Business Journal, Phillips 66 plans to buy some 2,000 railroad tank cars to ship oil from booming shale fields to the oil company’s refineries on the East, West and Gulf Coasts.
The story cites lagging pipeline development for the reason build rail capacity to transport 150,000 barrels per day of shale crude in two years. Apparently the infrastructure of trucks, barges and existing pipelines haven’t put a dent in the transportation needs in fast-growing Bakken and Eagle Ford shale plays.
Read the full report here:
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