Gibson Energy falls on deal to buy Texas oil terminal for $1.1 bln

Gibson Energy

15/06/2023 15:18

** Canadian energy infrastructure firm Gibson Energy's
 GEI.TO  shares fall 1.8% to C$20.92
    ** Co announced on Wednesday it will buy South Texas Gateway
oil terminal from Buckeye Partners and its partners for $1.1 bln
    ** South Texas Gateway is the second-largest oil export
facility in the U.S., with a total capacity of 8.6 mln barrels
across 20 tanks
    ** The terminal exported a record 670,000 barrels per day in
March, and year-to-date, it has handled 12% of U.S. crude
exports - GEI
    ** Facility is 50%-owned by Buckeye Partners while Phillips
66  PSX.N  and Marathon Petroleum Corp  MPC.N  hold 25% each
    ** Stock down 20% YTD, including session losses

 (Reporting by Arshreet Singh)
 ((Twitter: https://twitter.com/Arshreets))