SOURCE: Industrial Info Resources
SUGAR LAND, TX--(Marketwire - Aug 16, 2012) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Companies will spend an estimated $19.9 billion by year-end 2013 to expand the nation's crude-oil pipeline network. During the same period, companies processing and transporting natural gas liquids are expected to spend more than $6 billion on new capital projects. In both cases, the surge in spending is driven by strong global demand for oil and natural gas liquids, as well as high prices. Some of the new crude-oil pipeline projects are expected to gradually relieve the current crude-oil bottleneck at Cushing, Oklahoma, providing they can stay ahead of rapidly increasing crude-oil production from the mid-continent area.
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