Shell completes sale of refined products pipelines
Shell Oil Products US has sold its major refined oil products pipeline systems to asset acquisition companies for $1 billion. Oklahoma-based Magellan Midstream Partners has paid $490 million for the mid-continent system, while Pennsylvania-based Buckeye Partners has bought the Midwest system for $517 million.
The Midwest system comprises pipeline and storage assets in Illinois, Indiana, Ohio, Michigan and Wisconsin, and carries refined products from mainly US mid-continent refineries to points throughout the Midwest
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