Enterprise dismisses US export complaints
In a presentation today, an analyst asked executives about complaints by some shippers that Enterprise dock fees at the Oiltanking facilities it recently acquired were unfair. Chief operating officer Jim Teague answered that Enterprise expects its customers to pay fees similar to what it paid Oiltanking prior to last year's merger.
"We are honoring every contract we have got from Oiltanking, without fail," Teague said, noting that some Oiltanking customers had storage rights but did not have dock rights, although they may have been given waivers in the past.
"We believe if you want a service, you pay for it," he said, adding that Enterprise had paid an 85?/bl fee to load based on a 50-year contract.
"If some of these other guys complaining would like to do a 50-year term deal, we would do it without question," Teague said.
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