Capline Owners Announce Study of Future Operations
(Thomson Reuters ONE) -
FINDLAY, Ohio, Oct. 30, 2014 - Today, the owners of Capline, a crude oil
pipeline system that originates in St. James, La. and terminates in Patoka,
Ill., announce a study to examine the potential commercial opportunities
for future Capline operations. This analysis is being conducted to address the
expanding crude oil supply in North America and the significant changes in crude
oil demand patterns. As a part of this study, a connection to the
proposed Diamond Pipeline will be evaluated. Completion of the study is
anticipated in the first quarter of 2015.
###
About Capline
The Capline system consists of 632 miles of 40" pipe with 16 mainline pumping
stations, more than 10 million barrels of storage capacity and a mainline
capacity of 1.2 million barrels per day. The system provides a safe and
economical means to transport domestic and international supplies of crude oil
to a number of Midwest refineries and markets. Capline is owned by wholly-owned
subsidiaries of Plains All American Pipeline LP, Marathon Petroleum Corporation
and BP plc. It is operated by Marathon Pipe Line LLC.
Media Contacts:
Angelia Graves (419) 421-2703
This announcement contains certain statements that are forward-looking
statements within the meaning of federal securities laws concerning Marathon
Petroleum Corporation's participation in the evaluation of commercial
opportunities for the Capline crude oil pipeline system. These statements
contain words such as "study," "examine," "potential," "evaluate" and
"anticipate." Such forward-looking statements are not guarantees of future
performance and are subject to uncertainties and other factors, some of which
are beyond the control of the company and are difficult to predict. There can be
no assurance that the announced study will result in findings of commercial
opportunities or that any opportunities identified will be pursued by the owners
of the Capline system. For more information concerning risk factors relating to
Marathon Petroleum Corporation, see the factors set forth under the heading
"Risk Factors" in Marathon Petroleum Corporation's Annual Report on Form 10-K
for the year ended Dec. 31, 2013, filed with the Securities and Exchange
Commission (SEC).
Capline Owners Announce Study:
http://hugin.info/147922/R/1866951/655921.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Marathon Petroleum Corporation via GlobeNewswire
[HUG#1866951]
Unternehmensinformation / Kurzprofil:
Datum: 30.10.2014 - 13:08 Uhr
Sprache: Deutsch
News-ID 348404
Anzahl Zeichen: 3164
contact information:
Town:
Findlay, Ohio
Kategorie:
Business News
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