|
|
Article: Plains All American Pipeline Acquires Crude Oil Pipelines, Manifold and Tankage from Holly Corporation.
- Article from:
- Energy Weekly News
- Article date:
- November 6, 2009
CopyrightCOPYRIGHT 2009 NewsRX. 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)
|
Plains All American Pipeline, L.P. (NYSE: PAA) announced that it has acquired certain pipelines, a manifold system and approximately 400,000 barrels of crude oil storage capacity from Holly Corporation ("Holly") for $40 million.
The assets purchased include 6 tanks, three receiving pipelines and related assets and contract rights located at or associated with Holly's Tulsa, Oklahoma refinery. In conjunction with the sale, Holly entered a 15-year tank lease and minimum throughput agreement (with options to extend). Plains and ...