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FRA Provides Two Grants To Develop Short-Line Safety Institute

The Federal Railroad Association (FRA) announced two grants totaling $350,000 to aid in the development of a Short-Line Rail Safety Institute. U.S. Senators Patty Murray (D-Wash.) and Susan Collins (R-Maine) made the announcement and have been proponents of the formation for a Short-Line Rail Safety Institute.

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Fracking, Horizontal Technology Drive Energy Boom

It’s no secret that the Shale Oil & Gas Boom is being driven by accessible energy that was once thought unreachable. Looking at data from PacWest on wells frac’ed per quarter and Baker Hughes on wells spud per quarter, we can see that about 75% of the wells spud in the U.S. are now receiving hydraulic fracturing treatment.

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Growing U.S. Crude Supply Creates Demand For More Storage On Gulf Coast

The Wall Street Journal recently reported that the largest new oil-storage facility along the Texas Gulf Coast is slated for construction in Houston, TX. The designer/builder has been identified as Houston-based Haddington Ventures LLC. Haddington is a midstream oil and gas investment firm and is currently offering to sell a majority stake in the Pierce Junction crude oil storage project. RBC Capital Markets has been hired by Haddington to find a purchaser of the stake. Majority control is expected to sell for a maximum of $200 million.

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Oil Sands Development to Drive Canadian Oil Production Growth into 2030

According to the 2014 Crude Oil Forecast, Markets and Transportation published by the Canadian Association of Petroleum Producers (CAPP), Canadian oil production is projected to grow an average of 4% annually until 2030. This projected growth would mean that by 2030, 6.4 million barrels of oil per day (b/d) would be produced. Daily Canadian oil production in 2013 was 3.5 million b/d.

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Midland Offers Valve Remanufacturing & Repair

Midland Manufacturing, the global leader in railroad tank car safety valves and equipment, and a division of OPW, will now offer repair services of railcar valves in addition to its Valve Remanufacturing & Repair Program. Standard repair services of general and pressure railcar valves will consist of testing, cleaning, collecting of data, replacing soft goods (i.e., gaskets), assembling and final testing.

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