P is reportedly selling a major stake in its U.S. pipelines, including to the BP Whiting Refinery. Bloomberg is reporting the London-based energy giant sold a $700 million stake in BP Pipelines, including pipelines that run to its largest refinery in Whiting, to the investment firm Sixth Street. BP owns or manages more than 4,300 miles of pipelines that carry 1.1 million barrels or crude oil and refined petroleum products.
Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.