Canadian Gibson Energy has struck a deal with Buckeye Partner to buy the South Texas Gateway oil terminal for some $1.1 billion in cash. The deal will give Gibson access to “one of the most competitive liquids terminal and export facilities globally with direct pipeline connections to low-cost, long reserve-life resource supply, and very large crude carrier (“VLCC”) capabilities, the company said in a press release. The South Texas Gateway terminal is the second-largest oil export facility in the United States with a storage capacity…
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