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Environment & Energy Report

Exxon Signs Off on Permian Pipeline Venture to Ease Bottlenecks

Jan. 30, 2019, 4:21 PM

Exxon Mobil Corp. is pulling the trigger on a giant crude pipeline out of the Permian Basin that the oil major is developing with Plains All American Pipeline LP and private equity-backed Lotus Midstream LLC.

The companies formalized their joint venture for the line, which will ultimately shuttle more than 1 million barrels a day of crude and condensate from West Texas to the Gulf Coast, according to a Jan. 30 statement.

They’ve also ordered almost 650 miles (1,046 kilometers) of U.S. steel, avoiding a 25 percent tariff on foreign supplies of the alloy.

Exxon, Plains, and Lotus, which is...

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