Sunoco Logistics, ExxonMobil form JV for expanding crude supply
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, ExxonMobil and Sunoco Logistics Partners have agreed to launch a Permian Express Partners LLC. joint venture (JV) to combine their logistics networks for the purpose of expanding crude supply.
The JV will provide additional take-away services for shippers and provide an opportunity to increase crude supply for meeting the market demand. ExxonMobil will expand its network for crude supply to its refineries with this JV.
It is reported that ExxonMobil and its subsidiaries will enter a preferred provider agreement with the joint venture and Sunoco will have around 85% of Permian Express Partners LLC JV shares while ExxonMobil will own 15%.
The JV will provide additional take-away services for shippers and provide an opportunity to increase crude supply for meeting the market demand. ExxonMobil will expand its network for crude supply to its refineries with this JV.
It is reported that ExxonMobil and its subsidiaries will enter a preferred provider agreement with the joint venture and Sunoco will have around 85% of Permian Express Partners LLC JV shares while ExxonMobil will own 15%.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Major LDPE markets touch multi-year highs on growing tightness
- A prospect for Q4 through uncharted waters of 2020 amid pandemic
- China's import PP markets maintain uptrend under shadow of oil-driven losses in Dalian futures
- Weaker domestic demand prompts Vietnam to export polymers
- European PP market ceases upward trend in September
- Force majeure declarations rock the boat in Turkish PVC market
- China’s PE uptrend fueled by US force majeures; LDPE soars to more than 1-year high
- Stats: China’s cumulative PP imports in Jan-July 2020 reach record-high
- Sept PP, PE trend begins to take shape in Saudi Arabia
- Sept expectations voiced in Europe; ABS draws rosier picture than PS
