Terminal: Phillips 66 strikes (oil) in Beaumont

BEAUMONT – Phillips 66 has purchased a terminal with a storage capacity of 7.1 million barrels — 4.7 million for crude oil and 2.4 million for refined product. The terminal will be the largest storage terminal owned by the company.

Situated about 100 miles east of Houston on the Gulf Coast, the terminal is connected to a network of pipelines and refineries with production capacity of 3.6 million barrels per day.

Phillips 66 purchased the terminal from a Chevron Corp. subsidiary.

In 2013, Phillips 66 broke ground on its new 1.1 million-sf corporate campus in the Westchase District that will house all of its 1,800 Houston employees. The company has $3 billion of new projects in the region.