FERC denies Magellan's proposal to establish an oil marketing arm


The U.S. Federal Energy Regulatory Commission on Nov. 23 denied a proposal by Magellan Midstream Partners LP to establish a marketing affiliate to buy, sell and ship crude oil. Magellan’s proposal, which was first filed in November 2016, argued that its marketing affiliate would benefit the company as well as shippers on the pipeline by increasing usage of underutilized pipeline capacity as well as provide flexibility for producers and marketers and increase access to pipelines.