TEPPCO Partners LP, Houston TX has placed into service three new crude oil storage tanks at its Cushing, Oklahoma facility representing a 900,000 barrel, or nearly 50 percent, increase in its storage capacity, the company said.
The expansion, which is supported by long-term dedicated lease agreements, brings total capacity at the Cushing facility to 2.8 million barrels. The recently constructed tanks are part of a multi-phase expansion program Teppco is pursuing at Cushing. The partnership expects to place another 250,000 barrels of crude oil storage capacity in service in 2008. Since acquiring its Cushing assets in 2000, the partnership has more than tripled storage capacity.