Dakota Plains expects to commission an expansion of its Pioneer Terminal in New Town, ND, on December 18th.
Read more:Dakota Plains Pioneer Project Under Construction
When completed, throughput capacity at the rail terminal will increase from 30,000 b/d to 80,000 b/d. The facility will also have 180,000 barrels of storage.
The expansion couldn't come at a better time. The spread between WTI and Brent oil prices is at the highest point since March. A larger spread makes moving oil by rail more attractive.
“With price spreads and throughput volumes at their current high levels, and with our newly expanded Pioneer Terminal soon allowing higher throughput volumes, we believe we will be well-positioned for profitability as we move forward.”
Read more at www.dakotaplains.com