Midstream - Pipelines
Magellan To Reverse and Convert Permian Basin Pipeline
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Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it is proceeding with the reversal and conversion of a portion of the partnership’s 18-inch Houston-to-El Paso pipeline to crude oil service. The reversed pipeline system is expected to have an initial capacity of 135,000 barrels per day (bpd) to refiners in Houston and Texas City, supported by long-term committed volumes for a portion of this capacity.
“Magellan is pleased to announce that we have obtained the necessary commitment level and are moving forward with the reversal and conversion of a portion of our Houston-to-El Paso pipeline to crude oil service,” said Michael Mears, chief executive officer. “Current and forecasted future market dynamics favor the benefits of our pipeline project and customer interest has…
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