The EnLink Midstream companies, EnLink Midstream Partners, LP
(NYSE:ENLK) (the Partnership) and EnLink Midstream, LLC (NYSE:ENLC) (the
General Partner) (together “EnLink”), today announced that a subsidiary
of the Partnership has signed a definitive agreement to acquire LPC
Crude Oil Marketing LLC (“LPC”), which has crude oil gathering,
transportation and marketing operations in the Permian Basin, for
approximately $100 million, subject to certain adjustments.
Most, if not all, crude oil that would be transported via the proposed
Keystone XL pipeline to the U.S. Gulf Coast would not be exported, and
the vast majority of refined product (about 70 percent) derived from it
would be consumed in the United States, according to a new report by IHS
(NYSE: IHS), the leading source of critical information and insight.
Plains All American Pipeline, L.P. (NYSE: PAA )
today announced that it has acquired Legion Terminals, LLC, which owns a
crude oil terminal under construction in Johnson’s Corner, McKenzie
County, N.D. The terminal, which is expected to be in service in Q3
2015, is strategically positioned to serve as a crude oil logistics hub
in the Williston Basin.
ConocoPhillips (NYSE: COP) Chairman and CEO Ryan Lance today told
policymakers attending a briefing at the Center for Strategic and
International Studies (CSIS) that the nation’s approaching surplus
production of crude oil offers an opportunity for expanded global trade
World Fuel Services Corporation (NYSE: INT), a global fuel logistics,
transaction and payment processing company, principally engaged in the
distribution of fuel and related products and services to customers in
the aviation, marine and land transportation industries, today announced
that its wholly-owned subsidiary, Petroleum Transport Solutions, LLC
(“PTS”), has sold its crude oil joint venture interests, which includes
the Pioneer Terminal in New Town, North Dakota, to its joint venture
partner for a base sales price of $43 million.
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