Company News

UPDATE 1-Marketlink oil pipeline, Gulf Coast terminals restarted after storm Imelda

(Adds Phillips 66 Beaumont terminal restart, background)

Sept 23 (Reuters) - TC Energy Corp’s Marketlink oil pipeline, from Cushing, Oklahoma, to Nederland, Texas, was restarted on Friday after it was shut down last week due to Tropical Storm Imelda, a company spokesman said on Monday.

“We safely brought the system back online and have resumed deliveries,” company spokesman Terry Cunha said in an email.

Dangerous flash floods inundated parts of southeastern Texas last week as Tropical Depression Imelda dumped heavy rain over the region, rivaling the inundation from 2017’s Hurricane Harvey.

The 750,000 barrels per day (bpd) Marketlink pipeline connects to Energy Transfer LP’s Nederland terminal, market sources said, which also faced brief disruptions last week.

Phillips 66’s Beaumont Terminal in Nederland, Texas also resumed operations, the company said on Monday, after being shut last Thursday as a safety precaution due to flooding.

Inventories at Cushing, the delivery point for U.S. crude futures, rose by about 1.6 million barrels between Tuesday and Friday last week, traders said on Monday, citing data from market intelligence firm Genscape. (Reporting by Devika Krishna Kumar in New York, Editing by Franklin Paul and Chris Reese)