Reuters logo
Union Pacific's crude shipments to US Gulf Coast down in 4Q-exec
January 23, 2014 / 2:10 PM / 4 years ago

Union Pacific's crude shipments to US Gulf Coast down in 4Q-exec

HOUSTON, Jan 23 (Reuters) - Union Pacific Corp’s crude oil shipments via rail to the U.S. Gulf Coast were down 22 percent in the fourth quarter versus a year earlier as pipeline startups increased supply in the region, a senior executive told analysts on Thursday.

Narrowed discounts of U.S. crude prices to London’s Brent also played a role in the decrease, Eric Butler, executive vice president of marketing and sales for the railroad, said during the company’s fourth-quarter earnings call.

“Crude oil spreads, growing crude supply and increased pipeline activity are expected to have a continued impact on our crude by rail volumes,” he said.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below