Harvest Midstream to Acquire Phillips 66's Crude Oil Terminal in Louisiana
(P&GJ) — Harvest Midstream has entered an agreement with Phillips 66 to purchase the Belle Chasse Terminal, formerly the Alliance Refinery located in Plaquemines Parish, Louisiana. The acquisition is expected to close in the first quarter of 2023.
In November of 2021, Phillips 66 announced the closure of the Alliance Refinery and the transition of this facility into a crude oil terminal. This facility sits on approximately 3,200 acres, has 1 million barrels of active storage capacity and two crude oil loading docks.
“Harvest has a long, successful record operating assets in Louisiana,” said Harvest CEO Jason Rebrook. “Today’s agreement with Philips 66 for the Belle Chasse Terminal is a continuation of our commitment to Louisiana and we look forward to incorporating the facility into our best-in-class service to our customers.”
With this acquisition, Harvest will extend the value chain around its existing regional crude pipeline systems. Additionally, Harvest will be able to expand its service offerings to producers and refinery customers through its Harvest Marketing & Trading affiliate.
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