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Article: Enbridge Buys US Pipeline Stake.(from BP Pipelines North America)(Brief Article)
- Article from:
- The Oil Daily
- Article date:
- July 16, 2003
CopyrightCOPYRIGHT 2003 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Canadian pipeline operator Enbridge announced Tuesday it has agreed to purchase a 90% interest in the Cushing to Chicago Pipeline System (CCPS) from BP Pipelines North America for $122 million.
Upon approval of proposed tolling arrangements by Canadian producers and regulatory approval, the company intends to reverse the flow of the pipeline to transport Canadian crude 650 miles south from Chicago to Cushing, Oklahoma, providing Canadian crude oil producers and shippers with access to new markets.
CCPS has historically operated in south-to-north service with a capacity of ...