Capline Owners Announce Study of Future Operations
FINDLAY, Ohio, Oct. 30, 2014 - Today, the owners of Capline, a crude oil pipeline system that originates in St. James, La. and terminates in Patoka, Ill., announce a study to examine the potential commercial opportunities for future Capline operations. This analysis is being conducted to address the expanding crude oil supply in North America and the significant changes in crude oil demand patterns. As a part of this study, a connection to the proposed Diamond Pipeline will be evaluated. Completion of the study is anticipated in the first quarter of 2015.
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About Capline
The Capline system consists of 632 miles of 40" pipe with 16 mainline pumping stations, more than 10 million barrels of storage capacity and a mainline capacity of 1.2 million barrels per day. The system provides a safe and economical means to transport domestic and international supplies of crude oil to a number of Midwest refineries and markets. Capline is owned by wholly-owned subsidiaries of Plains All American Pipeline LP, Marathon Petroleum Corporation and BP plc. It is operated by Marathon Pipe Line LLC.
Media Contacts:
Angelia Graves (419) 421-2703
This announcement contains certain statements that are forward-looking statements within the meaning of federal securities laws concerning Marathon Petroleum Corporation`s participation in the evaluation of commercial opportunities for the Capline crude oil pipeline system. These statements contain words such as "study," "examine," "potential," "evaluate" and "anticipate." Such forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors, some of which are beyond the control of the company and are difficult to predict. There can be no assurance that the announced study will result in findings of commercial opportunities or that any opportunities identified will be pursued by the owners of the Capline system. For more information concerning risk factors relating to Marathon Petroleum Corporation, see the factors set forth under the heading "Risk Factors" in Marathon Petroleum Corporation`s Annual Report on Form 10-K for the year ended Dec. 31, 2013, filed with the Securities and Exchange Commission (SEC).
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Marathon Petroleum Corporation via GlobeNewswire
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