Alon sells two US pipelines

Alon USA Energy, Inc. said Tuesday it agreed to sell its Amdel and White Oil oil pipelines to an affiliate of Sunoco Logistics Partners L.P. for $68 million.

By AVI KRAWITZ
February 15, 2006 06:43

Alon USA Energy, Inc. said Tuesday it agreed to sell its Amdel and White Oil oil pipelines to an affiliate of Sunoco Logistics Partners L.P. for $68 million. Alon, which is the US energy subsidiary of Yakum-based Alon Oil Group, said the deal would close before the end of March at which time it would recognize a related one-time pre-tax gain of $53m. Alon and Sunoco also will enter into a 10-year pipeline agreement, which would allow Alon to retain crude oil transportation rights on the pipelines from the Gulf Coast. Alon, in turn, would commit to ship a minimum of 15,000 barrels per day on the lines.


Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS