Phillips 66 Partners is officially pulling out of the long-deferred Liberty Pipeline project that was designed to move 350,000 b/d of crude oil from the Rockies and Bakken Shale to the benchmark Cushing, Oklahoma, hub, the company said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The Phillips 66 Partners-led pipeline project was put on indefinite hold more than a year ago when the pandemic crushed global crude oil demand and, since then, the US energy sector has kept tight reins on capital spending. Phillips 66 Partners will record an estimated impairment of between $180 million and $210 million in the first quarter for pulling the plug on the long-dormant project, it said in a […]