Thursday, February 6, 2025

IFM to Take Pipeline Owner Buckeye Private for $6.5 Billion

From Bloomberg IFM Global Infrastructure Fund agreed to acquire Buckeye Partners LP, a U.S. owner and operator of oil pipelines and terminals on the East Coast and Gulf Coast, for $6.5 billion. The Australian fund said Friday it will pay $41.50 for each unit of Houston-based Buckeye, a master limited partnership that has 6,000 miles of pipeline and associated tanks and terminals.

Enbridge Warns Line Three Pipeline Cost Could Exceed C$9 Billion

From Reuters Enbridge Inc, Canada’s largest pipeline operator, said on Friday there is a risk its Line 3 replacement project could exceed its previous cost estimate of C$9 billion ($6.71 billion) because of delays to permits in the United States. Once complete, Line 3 will carry 760,000 barrels per day of western Canadian crude to U.S. markets. In March Enbridge

Kinder Morgan Canada To Remain Independent After Strategic Review

From Reuters Pipeline company Kinder Morgan Canada Ltd said on Thursday it would continue as a stand-alone entity, following a strategic review that considered options including a sale. The company said its decision was consistent with the recommendation of a special committee of independent directors not affiliated with Kinder Morgan Inc, which holds about 70 percent majority voting interest in