Enterprise Products not considering new Permian oil pipeline, says co-CEO

Reuters

2024/10/24

HOUSTON, Oct 24 (Reuters) - U.S. energy pipeline operator Enterprise Products is not considering adding a new crude oil line out of the Permian shale field in West Texas, co-CEO Jim Teague said on Thursday.

A wave of consolidation in the top U.S. shale field has concentrated output in the hands of companies that are promising to restrain output so as not to crash prices by overproducing.

(Reporting by Arathy Somasekhar)

((Arathy.Somasekhar@thomsonreuters.com; +1 469-691-7668;))

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