Aramco Trading partners FTAI Infrastructure to enhance oil supply to Texas terminal [Yahoo! Finance]
FTAI Infrastructure Inc. (FIP)
Company Research
Source: Yahoo! Finance
This deal will see an increase in crude oil supply at Jefferson Energy's main terminal in Beaumont, Texas. It involves enhancing the Jefferson Southern Star Pipeline to support bi-directional flow, which will boost the terminal's capacity. Currently, the Jefferson Southern Star Pipeline facilitates crude oil movements from Jefferson Energy's main terminal to the Motiva Port Neches terminal. The upgrade to bi-directional flow will enable the pipeline, with its 400,000 barrels per day (bpd) capacity, to connect directly to the Motiva-TC Energy Port Neches Link. This connection opens up the main terminal to additional crude oil volumes from the TC Energy Marketlink Pipeline system, which has a capacity of 750,000bpd from Cushing, Oklahoma, to the US Gulf Coast. Jefferson Energy's main terminal has a capacity of 6.2 million barrels of storage and serves as a multimodal transloading hub across a 250-acre site on the Neches River. The terminal manages both crude oil and refined
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News
- FTAI Infrastructure Inc. (NASDAQ: FIP) is now covered by analysts at JMP Securities. They set a "market outperform" rating and a $11.00 price target on the stock.MarketBeat
- FTAI Infrastructure Inc. (NASDAQ:FIP) is a favorite amongst institutional investors who own 66% [Yahoo! Finance]Yahoo! Finance
- Jefferson Energy, Aramco Trading Americas Execute Agreement for Bi-Directional Flow on Jefferson Southern Star Pipeline; Will Provide Access from Marketlink Pipeline to Jefferson Energy's Beaumont Terminal [Yahoo! Finance]Yahoo! Finance
- Jefferson Energy, Aramco Trading Americas Execute Agreement for Bi-Directional Flow on Jefferson Southern Star Pipeline; Will Provide Access from Marketlink Pipeline to Jefferson Energy’s Beaumont TerminalGlobeNewswire
- FTAI Infrastructure Inc. (NASDAQ: FIP) had its price target raised by analysts at BTIG Research from $10.00 to $11.00. They now have a "buy" rating on the stock.MarketBeat
FIP
Sec Filings
- 6/20/24 - Form 8-K
- 6/7/24 - Form SC
- 6/3/24 - Form 4
- FIP's page on the SEC website