- Chevron (NYSE:CVX) and WPX Energy (NYSE:WPX) are the latest energy companies to ask the FERC for a new hearing on the broad industry impact of Magellan Midstream Partners’ (NYSE:MMP) request to launch a marketing affiliate, signaling concerns about the effect it could have on shipping oil in the U.S.
- Three companies - Plains All American Pipeline (NYSE:PAA), Energy Transfer Partners (ETP) and Enterprise Products Partners (NYSE:EPD) - last week raised objections, saying MMP is raising broad issues that could jeopardize existing marketing affiliates and disrupt existing practices.
- If FERC intends to change its policies in a way that would have “substantive changes to existing commonplace, industry-wide practices,” then a final ruling on MMP’s request should be postponed until a broader hearing is finished, CVX and WPX say in their filing with the regulator.