Enterprise’s Seaway Oil Pipeline System Back To Full Operations: Report

Enterprise Products Partners (EPD) reportedly said on Friday that the Seaway crude oil pipeline system is back to full operation following a leak earlier this week at its southeast Houston oil terminal.

According to a Reuters report, a section of the Seaway pipeline was shut down on Tuesday night, disrupting crude oil flows along the route that stretches from Cushing, Oklahoma, to the Freeport, Texas, region and links to the Enterprise Crude Houston (ECHO) terminal.

The Seaway Crude Pipeline System is often called the Seaway Pipeline and is an oil transportation network that moves crude oil from Cushing to Freeport, passing through the Texas City Terminal and Distribution System along the U.S. Gulf Coast.

The Seaway pipeline is operated by Seaway Crude Pipeline Company LLC, a 50-50 joint venture between Enterprise Products Partners and Enbridge Inc., with the former serving as the operator of the pipeline.

The Reuters report added that the restart process had happened in stages, and the pipeline began to transport volumes late on Thursday. The company did not detail how many barrels were impacted by the leak.

Reuters noted that the ECHO terminal is a physical delivery point for Midland crude oil in Houston and provides crude oil storage to customers with access to major refineries along the Texas Gulf Coast.

Retail sentiment on Enterprise Products Partners improved to ‘neutral’ from ‘bearish’ territory, with message volumes at ‘low’ levels, according to data from Stocktwits. Enterprise Products Partners’ shares were down nearly 1% during midday trading and have gained 9% in the last 12 months. 

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