Phillips 66 (PSX) agrees to sell its marine terminal and associated assets near New York Harbor...

|About: Phillips 66 (PSX)|By:, SA News Editor

Phillips 66 (PSX) agrees to sell its marine terminal and associated assets near New York Harbor to United Refining, a deal that continues PSX's strategy of divesting non-core assets while adding a 5M barrel storage facility to United's northeast U.S. assets. The terminal is the east coast's only deepwater loading and unloading facility and can handle Suezmax vessels and VLCC tankers.