Sunoco Logistics buys Vitol Permian system
Sunoco Logistics Partners LP has bought Vitol Group’s Permian basin crude oil system for $760 million plus working capital.
The system includes a crude oil terminal in Midland, a crude gathering and mainline pipeline system, and crude inventories related to Vitol’s purchasing and marketing business.
The system includes Vitol’s 50% interest in SunVit Pipeline LLC connecting the Midland Terminal with Sunoco Logistics’ Permian Express 2 pipeline. Sunoco Logistics now owns all SunVit membership interests.