FOR IMMEDIATE RELEASE
                                                    Contact: Ross A Benavides
                                                    Chief Financial Officer
                                                    (713) 860-2528


                     GENESIS ENERGY, L.P. TO ACQUIRE SYNGAS
                     PARTNERSHIP INTEREST FROM CHEVRONTEXACO


         February 7, 2005 - Genesis Energy, L.P. (AMEX:GEL) announced today that
it has entered into a definitive agreement (the "Definitive Agreement") with
TCHI Inc.("TCHI"), a wholly owned subsidiary of ChevronTexaco Global Energy Inc.
to purchase its 50% partnership interest in T&P Syngas Supply Company ("T&P
Syngas") for $13.5 million, subject to normal closing conditions. The
acquisition is subject to a right of first refusal held by Praxair Hydrogen
Supply, Inc. ("Praxair") which holds the other 50% partnership interest.


         T&P Syngas is a partnership that owns a syngas manufacturing facility
(the "Facility") located in Texas City, Texas. The Facility processes natural
gas to produce syngas (a combination of carbon monoxide and hydrogen) and high
pressure steam. All of the syngas and steam produced by the Facility is sold to
Praxair under a long-term processing agreement.

         Based on currently available information, we expect the transaction to
be immediately accretive to distributable cash flow and to generate
approximately $1.0 million of additional annual net cash provided by operating
activities during the first year of operation. The acquisition, if concluded,
will be financed through our credit facility with Bank of America.

         Genesis Energy, L.P., operates crude oil common carrier pipelines and
is an independent gatherer and marketer of crude oil and natural gas in North
America, with operations concentrated in Texas, Louisiana, Alabama, Florida, and
Mississippi. Genesis Energy, L.P. also operates a wholesale CO2 marketing
business.

         This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Although Genesis believes that its expectations
are based upon reasonable assumptions, it can give no assurance that its goals
will be achieved. Important factors that could cause actual results to differ
materially from those in the forward looking statements herein include the
timing and extent of changes in commodity prices for oil, ability to obtain
adequate credit facilities, environmental risks, government regulation, the
ability of the Company to meet its stated business goals and other risks noted
from time to time in the Company's Securities and Exchange Commission filings.

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