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CVR Refining to sell Cushing tank farm assets

Published by , Editorial Assistant
Tanks and Terminals,

CVR Refining, LP, a refiner and marketer of petroleum fuels, has announced that it intends to sell its Cushing, Oklahoma, US, crude oil tank farm and is currently entertaining bids from potential purchasers.

The 1.5 million bbls crude oil storage facility sits on approximately 130 acres and includes six storage tanks, each with the capacity to hold 250 000 barrels of crude oil.

The property has sufficient acreage for approximately 12 additional tanks of similar size.

The assets for sale include a truck unloading facility with one lease automatic custody transfer unit and four 400 bbls tanks.

Cushing is a trading hub for crude oil and the delivery point for West Texas Intermediate crude oil, which is traded on the New York Mercantile Exchange.

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