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Stock Market & Financial Investment News

News Breaks
June 25, 2014
13:22 EDTETP, SXLEnergy Transfer announces crude oil pipeline project
Energy Transfer Partners (ETP) announced that its board has approved building an approximate 1,100 mile crude oil pipeline to transport crude supply from strategic receipt points in the Bakken/Three Forks production area in North Dakota to Patoka, Illinois, where the Bakken Pipeline will interconnect with Energy Transfer’s existing 30-inch diameter Trunkline Pipeline, which is being converted from natural gas service to crude transportation service. From Patoka, shippers will be able to access multiple markets, including Midwest markets and East Coast markets by rail as well as the Gulf Coast, via Trunkline, to the Nederland, Texas crude oil terminalling facility of Sunoco Logistics (SXL). Additionally, Energy Transfer will develop a rail terminal facility in Illinois to access East Coast refineries. ETP has already begun the process of ordering steel and negotiating construction contracts for the Bakken Pipeline, and ETP expects to have the Bakken Pipeline built and in service, and the Trunkline crude oil conversion project completed and in service, by the end of 2016. ETP is in discussions with SXL regarding a potentially significant equity participation by SXL.
News For ETP;SXL From The Last 14 Days
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July 24, 2014
16:48 EDTSXLSunoco Logistics increases quarterly dividend by 5% to 36.5c
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11:57 EDTETPEnergy Transfer Partners increases cash distribution by 6.9% to 95.5c
Energy Transfer Partners announced that its board has approved a 2c increase in its quarterly distribution to 95.5c per ETP common unit for the quarter ended June 30. The quarterly distribution of 95.5c represents a distribution increase of 24.5c per common unit on an annualized basis, or 6.9%, compared to the second quarter of 2013 and represents an annualized distribution increase of 8c per common unit compared to 1Q14. The cash distribution will be paid on August 14, 2014 to unitholders of record as of the close of business on August 4, 2014.

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