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FERC delays response to Magellan's request for rehearing on marketing arm

Published 01/23/2018, 10:17 AM
© Reuters.  FERC delays response to Magellan's request for rehearing on marketing arm
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  • The Federal Energy Regulatory Commission says it extended the timeframe to respond to Magellan Midstream Partners’ (MMP -0.1%) request for a rehearing on its proposal to establish a marketing affiliate to buy, sell and ship crude oil.
  • The order “provides the Commission as much [time] as it needs to review thoroughly the issues raised in the record” and make a decision, FERC says.
  • Last week, WPX Energy and Chevron (NYSE:CVX) asked FERC for a new hearing on the broad industry impact of MMP’s request.
  • Now read: MLP Valuations Reflect Weak Results - Stock And Bond Outlook


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