SPR oil storage
PBF Logistics has agreed to buy four Philadelphia-area refined products terminals from Plains All American Pipeline for $100 million. PBF said in a statement the terminals would double the company’s current capacity to 8.1 million shell barrels and diversify its customer and asset base. The terminals are located within 100 miles of approximately 1.3 million barrels per day of refining capacity. The deal is expected to close in the second quarter of 2016.
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