CORPUS CHRISTI, Texas — Oil prices have plunged because of a huge drop in demand and fears that we could run out of places to store crude.
Construction was just completed on two Coastal Bend facilities with a combined capacity to store 12 million barrels of crude oil.
They are the Moda Ingleside Energy Center and the Moda Taft Terminal.
Construction has now begun at the Ingleside facility on a new expansion phase of an additional 3.5 million barrels of crude oil storage.
This project will provide Moda Ingleside Energy Center with a storage capacity of more than 15 million barrels of crude oil.
