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Magellan Midstream to Build Out Crude Oil Pipeline Services in 2019, with $3.3 Billion in Projects Slated
Industry Segment: Pipelines | Word Count: 674 Words
Attachment: Magellan 4Q18
SUGAR LAND--February 7, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--Magellan Midstream Partners (NYSE:MMP) (Tulsa, Oklahoma) benefited from growing demand for its services, notably along the U.S. Gulf Coast, and stronger pricing in 2018, particularly during the fourth quarter. The company is moving forward on plans to develop its fee-based services for refined-petroleum products and crude-oil pipelines and terminals, as these were its most profitable areas in the past year. Industrial Info is tracking more than $3.3 billion in active projects involving Magellan, almost half of which is attributed to projects along the Texas Gulf Coast.
Within this article: Details on some of Magellan's most anticipated projects, including three major pipelines in Texas, one of which is in conjunction with Valero Energy Corporation (NYSE:VLO).
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