March 20, 2012 / 2:47 PM / 6 years ago

Seaway reversal on track for end May, expansion likely

NEW YORK, March 20 (Reuters) - Enterprise Products Partners said on Tuesday the Seaway crude oil pipeline reversal is on track to begin in late May carrying 150,000 barrels per day of crude from Canada and the Bakken formation to refineries along the U.S. Gulf Coast.

Seaway is the first project on the drawing boards of many companies expected online to alleviate a glut of crude stuck in the oil hub of Cushing, Oklahoma, the delivery point of the New York Mercantile Exchange crude oil contract.

Speaking to attendees at its annual analyst day in Houston about crude oil and its offshore business, a company spokesman said crude inventories have been building at Cushing ahead of the reversal.

The spokesman said that the expansion of the line is being evaluated and the company would make an announcement soon about the results of the open season which ended mid-February for a loop which would increase capacity to as much as 400,000 bpd.

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