HomeArticlesEnterprise Abandons Texas Pipeline Project as Oil Prices Remain Weak

Enterprise Abandons Texas Pipeline Project as Oil Prices Remain Weak

9/9/2020

(Reuters) — Enterprise Products Partners LP on Wednesday abandoned a major 450,000-barrel-per-day Permian crude pipeline project in Texas and agreed to give customers lower near-term commitments on other pipelines as oil prices remain stagnant.  The cancellation of the Midland to ECHO 4 pipeline is in line with other delayed energy projects, including export terminals and pipeline builds, hurt by lower demand after U.S. oil producers chopped output to cope with oil prices below $40 a barrel.  Enterprise also said it no longer expects to receive regulatory approvals for its offshore crude export terminal in 2020. The company previously anticipated final approval in the second quarter. But th

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