A planned pipeline project designed to carry crude oil from the Rockies and Bakken Shale to the Cushing hub in Oklahoma has been abandoned by Phillips 66 Partners.
The firm announced it is pulling out of what has been described as “the long-deferred” Liberty Pipeline project that would have carried 350,000 barrels a day of crude oil down 700 miles of line from Guernsey, Wyoming to Cushing.
The Phillips 66 Partners-led pipeline project was put on indefinite hold more than a year ago when the pandemic crushed global crude oil demand and, since then, the US energy sector has kept tight reins on capital spending reported S&P Global Platts.
The pipeline would have stretched 700 miles from Guernsey, Wyoming, to Cushing.
Click here for S&P Global Platts story.