HOUSTON Aug 1 Magellan Midstream Partners LP sees a "high probability" of expanding its Longhorn crude oil pipeline, which is ramping up volumes of West Texas crude shipped to Houston-area refineries, Chief Executive Mike Mears told analysts on Thursday.
He said the reversed pipeline that started shipping crude in April was expected to move an average of 120,000 barrels per day in the third quarter, ramping up to its full 225,000 bpd capacity in September.
Mears also said the company expects to launch an open season later in the third quarter to gauge shipper interest in a new diesel and jet fuel pipeline in Arkansas. The pipeline would move up to 75,000 bpd from Magellan's Forth Smith network to its terminal in Little Rock.
The line would help fill a void left in the state when Enterprise Products Partners last month shut a Texas-to-Indiana distillate pipeline to convert it to move Pennsylvania ethane to Texas.
Piech, Porsche families say united behind VW management - Spiegel
FRANKFURT, Oct 22 The Piech and Porsche families that control more than 52 percent of Volkswagen have vowed to back senior management, setting aside past disputes as the carmaker struggles to overcome an emissions scandal, Der Spiegel reported on Saturday.
Nordea chairman says merger with ABN Amro would create "fine bank"
HELSINKI, Oct 22 A merger between Sweden's Nordea and Dutch state-owned lender ABN Amro would make "a pretty fine bank," and early talks may continue after a March 2017 election in the Netherlands, Nordea chairman Bjorn Wahlroos said on Saturday.