Pacific Energy builds on plan to deliver Canadian oil to US Rockies refiners

摘要

US pipeline company Pacific Energy Partners plans to buy the Rangeland Pipeline System from BP Canada Energy and the Imperial Oil Resources-owned Mid Alberta Pipeline (MAPL),creating an integrated pipeline network to deliver Canadian synthetic crude to US Rocky Mountain refiners.In a statement late Feb 24,Pacific said the Rangeland deal was priced at CUS 130-mil (US97.84-mil) plus about CUS26-mil for line fill,working capital,transaction costs and transition capital expenditures.Deal closing is expected in 45-90 days,following receipt of regulatory approvals and fulfillment of other standard closing conditions.Pacific refused to divulge the price of MAPL until a binding purchase agreement is inked.