Exxon Mobil Corporation (XOM) has entered an agreement with Enterprise Products Partners to acquire a 40% stake in the Bahia NGL pipeline, with a capacity of 600,000 bbl/d and construction costs of $650 million. The expansion project aims to increase capacity to 1 million bbl/d by 2027, catering to rising Permian NGL output.

Enterprise Products Partners anticipates a 30% increase in Permian NGL production from 2024 to 2030. The Bahia pipeline will play a crucial role in transporting NGLs to Mont Belvieu. ExxonMobil’s joint venture with EPD and the expansion project will provide additional transportation and processing capacity for the growing NGL volumes.

Exxon Mobil Corporation (XOM) holds a Zacks Rank #3. Top-ranked energy sector stocks include Oceaneering International (OII), Canadian Natural Resources Ltd. (CNQ), and FuelCell Energy (FCEL). Oceaneering provides offshore technology solutions, CNQ is a leading oil and gas producer, while FCEL offers low-carbon energy solutions, contributing to the energy transition.

Read more at NASDAQ: ExxonMobil to Acquire 40% Stake in Enterprise’s Bahia Pipeline Project