Crude transport and storage companies stripping budgets

By J. D. Meisner

According a major investment corporation, six crude oil pipeline operators have cut a combined $1.9 billion from their 2020 budgets as record low oil prices and decreased demand due to the coronavirus pandemic have shelved plans for new projects.

According to a report from investment banking firm Simmons Energy, EnLink Midstream, Noble Midstream Partners, Oneok, Pembina Pipeline, Ra…