Enterprise Products Partners LP (NYSE:EPD) reported that it will implement five new quality provisions for sweet crude oil, also named as West Texas Intermediate at its terminal in Cushing. Cushing terminal marks as a physical delivery level for NYMEX WTI futures.
Brent Secrest of Enterprise Products stated that they are delighted to provide an expanded quality assurance plan which is consistent with the guidelines required by their producing and refining clients, both international and domestic. The new specifications will improve predictability, integrity and stability for the WTI crude oil stream. These can be offered against the NYMEX WTI futures contract at Enterprise Cushing.
The five additional quality factors include tests for vanadium, nickel, distillation, micro carbon residue and total acid number (TAN). These new WTI quality parameters are projected to take effect beginning with the January 2019 delivery month.
As it is known, Enterprise Products marks as one of the leading publicly traded associations and a major North American provider firm of midstream energy services to consumers and producers of natural gas, crude oil, NGLs, petrochemicals and refined products. Their services comprise natural gas gathering, processing, treating, storage and transportation; NGL transportation, storage, fractionation and export and import terminals; crude oil gathering, storage and terminals transportation; refined products and petrochemical transportation, terminals and storage.
It services also comprise a marine transportation operation that operates mainly on the U.S. inland and Intracoastal Waterway systems. The association assets comprise around 50,000 miles of pipelines; storage capacity of 260 million barrels for crude oil, refined products, petrochemicals and NGLs; and natural gas storage capacity of 14 billion cubic feet.
In the last trading session, the stock price of Enterprise Products gained 0.66% to close the day at $26.07. The gains came at a share volume of 4.99 million compared to average share volume of 5.54 million.