Report
Stephen Ellis
EUR 100.00 For Business Accounts Only

U.S. Oil Export Terminals Offer a Compelling Growth Opportunity for Midstream

Expanding on our overarching theme of the incremental U.S. hydrocarbons (whether it be gas, oil, or natural gas liquids) being exported, we introduce a differentiated U.S. crude-oil exports forecast of 4 million barrels per day by 2020, sharply higher than consensus estimates of 1.4 million bpd to 2.25 million bpd. We believe consensus underestimates the ability for U.S. oil supply, particularly from the Permian Basin, to increase over the next few years and lacks a clear understanding of the ab...
Underlying
Magellan Midstream Partners L.P.

Magellan Midstream Partners is engaged in the transportation, storage and distribution of refined petroleum products and crude oil. The company's segments are: refined products, which consists of its refined products pipeline system, independent terminals and ammonia pipeline system; crude oil, which comprises crude oil pipelines, condensate splitter and storage facilities and ships crude oil as a common carrier for customers including crude oil producers, end users such as refiners, and marketing and trading companies; and marine storage, which owns and operates marine storage terminals located along coastal waterways.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Stephen Ellis

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