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More oil producers want new hearing on Magellan's proposed marketing arm

Jan. 17, 2018 6:11 PM ETChevron Corporation (CVX) StockCVX, EPD, PAA, MMP, WPX, ETBy: Carl Surran, SA News Editor13 Comments
  • 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.

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