• About
  • Advertise
  • Subscribe
  • Contact
Friday, January 22, 2021
Tank Storage Magazine
ADVERTISEMENT
  • Home
  • Awards
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Subscribe
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Request Media Kit
    • Download Independent Audit
  • Events
    • Global Events
    • Awards
    • StocExpo
  • Directory

To search please Login or Register for free.

  • Home
  • Awards
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Subscribe
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Request Media Kit
    • Download Independent Audit
  • Events
    • Global Events
    • Awards
    • StocExpo
  • Directory

To search please Login or Register for free.

Tank Storage Magazine

To search please Login or Register for free.

Home Terminal News

Blueknight sells terminal, pipeline and trucking businesses

December 22, 2020
in Terminal News
2 min read
Marquard & Bahls take bigger stake in Nordic Blue Crude

Image: Charles Deluvio/Unsplash

Share on FacebookShare on TwitterShare on Linkedin

US midstream company Blueknight Energy Partners has agreed several deals to sell its crude oil terminalling, pipeline, and trucking business segments for US$162 million (€132.5 million).

CEO Andrew Woodward says that the ‘transformational’ transactions are part of Blueknight’s transition into a pure-play downstream terminalling business focussed on infrastructure and transportation end markets, and that the transactions will position the partnership for long-term growth.

Canadian-based Enbridge has bought the crude oil terminalling business for US$132 million. The facility, in Cushing, Oklahoma, comprises 34 tanks with a capacity of 6.6 million bbl, and will bring Enbridge’s total capacity in Cushing to 26 million bbl. Enbridge says that the acquisition will allow it to retain its ranking as the second largest storage operator in Cushing, as well as provide connectivity to new production basins, Oklahoma and the Rockies. The transaction is expected to close in early 2021.

‘For our customers, we’re expanding our storage capabilities and connections in Cushing which brings more optionality, flexibility and value.  This brings value for our customers and is important to our company as part of our US Gulf Coast strategy,’ says Enbridge vice president of business development, US, Vince Paradis.

Enbridge wants to direct oil to the Gulf Coast, which is home to the US’ largest refining complex, and is an important transshipment point and trading hub.

CVR Energy subsidiaries have paid US$20 million for Blueknight’s crude oil pipeline business, excluding crude oil linefill and inventory. The business includes 972 km of pipeline and 300,000 bbl of related crude oil storage in Oklahoma.

The trucking business has been sold to an undisclosed buyer.

Next Post
IFM contributes equity interest in Freeport LNG to Buckeye

ILTA’s Clay welcomes US port investment bill

About Tank Storage Magazine

Tank Storage Magazine is published by Easyfairs UK Ltd.

Tank Storage Magazine is the leading industry publication dedicated exclusively to the bulk liquid storage and terminal sector.

It has been delivering the latest news, developments, analysis, products and innovations for 15 years.

Published 7 times a year, the publication is read by CEOs, terminal managers, business development managers and senior engineers within the oil, gas and petrochemical market.

Site Links

  • Home
  • Awards
  • News
  • Features
  • Tank Talk
  • Videos
  • Subscribe
  • Advertise
  • Events
  • Directory
  • Home
  • Awards
  • News
  • Features
  • Tank Talk
  • Videos
  • Subscribe
  • Advertise
  • Events
  • Directory

© 2020 Easyfairs UK Ltd | 2nd Floor, Regal House | 70 London Road | Twickenham | TW1 3QS | United Kingdom | Registered in England No. 05067979

No Result
View All Result
  • Home
  • Awards
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Subscribe
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Request Media Kit
    • Download Independent Audit
  • Events
    • Global Events
    • Awards
    • StocExpo
  • Directory

© 2020 Easyfairs UK Ltd | 2nd Floor, Regal House | 70 London Road | Twickenham | TW1 3QS | United Kingdom | Registered in England No. 05067979

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In