Sonoco to buy New York oil terminal

Sunoco Logistics Partners LP has signed an agreement with Mobil Pipe Line Co., an affiliate of ExxonMobil Corp., to buy a 50% interest in a products terminal in Syracuse, NY.

April 18, 2006

By OGJ editors
HOUSTON, Apr. 18 -- Sunoco Logistics Partners LP has signed an agreement with Mobil Pipe Line Co., an affiliate of ExxonMobil Corp., to buy a 50% interest in a products terminal in Syracuse, NY.

The terminal has storage capacity of 550,000 bbl.

The transaction is expected to close in June, subject to purchase rights held by an existing owner and other closing conditions.