Shell sees Houston-Houma pipeline up and running soon
LONDON Aug 1 (Reuters) - The Houston-to-Houma pipeline reversal, designed to react to changing supply-demand dynamics in the U.S. oil system, should be running "in the not too distant future", Shell's finance director, Simon Henry, told reporters on Thursday.
A portion of the pipeline is currently shut while work takes place. When it is running, a system that used to take crude from the Gulf of Mexico can be used instead to ship cheaper crude now produced inland to Louisiana markets.
The so-called "Ho-Ho" reversal and other such moves have been narrowing the gap that has opened up between the prices of U.S. WTI and the European Brent oil benchmarks.