Buckeye Partners has agreed to acquire a 50% stake in Vitol Tank Terminals International (VTTI) from Vitol Group for $1.5bn.
VTTI’s assets include 13 terminals with a total gross storage capacity of more than 54 million metric barrels (mmbbls).
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VTTI will be owned by Vitol (50%) and Buckeye (50%) upon completion of the deal in January 2017. Buckeye has retained Barclays Capital as financial advisor for the transaction.
National Oilwell Varco (NOV) has agreed to pay $145.16m for the acquisition of Fjords Processing from Akastor ASA.
Fjords offers process support systems for onshore and offshore oil and gas projects.
The transaction is scheduled for completion in the fourth quarter of 2016.
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By GlobalDataEnergy Transfer Partners (ETP) has agreed to acquire certain stakes in PennTex Midstream Partners (PTXP).
The $640m transaction will be funded by ETP through a combination of cash and equity.
PTXP owns a natural gas gathering system, two cryogenic natural gas processing plants, and residue gas and natural gas liquids pipelines in northern Louisiana.
ETP has retained Credit Suisse Securities and Andrews Kurth Kenyon as financial and legal advisors for the deal, respectively.
Scheduled for completion in the fourth quarter of 2016, the deal will allow ETP to expand its midstream operations in northern Louisiana.
