Qatar investing in Permian midstream firm

Qatar’s sovereign wealth fund will invest about $550 million in Oryx Midstream Services, a privately held midstream crude operator in the Permian basin.

An affiliate of Qatar Investment Authority (QIA) has acquired “a significant stake” in Oryx from an affiliate of Stonepeak Infrastructure Partners and committed to invest in Oryx development, QIA said.

Oryx has 1,200 miles of crude oil pipelines in service or under construction in eight counties in Texas and two in New Mexico. When construction is finished, its total throughput capacity will exceed 900,000 b/d.

QIA plans US investments totaling $45 billion.