FERC delays response to Magellan's request for rehearing on marketing arm [Seeking Alpha]
WPX ENERGY (WPX)
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Source: Seeking Alpha
FERC delays response to Magellan's request for rehearing on marketing armThe Federal Energy Regulatory Commission says itextended the timeframe to respond to Magellan Midstream Partners’ (MMP-0.1%) request for a rehearing on its proposal to establish a marketing affiliate to buy, sell and ship crude oil.The order “provides the Commission as much [time] as it needs to review thoroughly the issues raised in the record” and make a decision, FERC says.Last week, WPX Energy and Chevron asked FERC for a new hearing on the broad industry impact of MMP’s request.Click to subscribe to real-time analytics on MMPNow read:MLP Valuations Reflect Weak Results - Stock And Bond Outlook »
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