Publications

Energy - JUNE 10, 2021

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Magellan Midstream Partners to sell petroleum terminals network

by Kali Persall

Magellan Midstream Partners is planning to sell its independent terminals network to Buckeye Partners for $435 million.

The network consists of 26 refined-petroleum-products terminals with 6 million barrels of storage, located primarily in the southeastern United States.

“The sale of our independent terminals demonstrates Magellan’s continued focus on utilizing all available options, including optimization of our asset portfolio, to maximize unitholder value,” said Michael Mears, CEO of Magellan.

The sale is expected to close following the necessary regulatory approvals.

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.