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%.
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