Plains Pipeline to buy Rainbow Line for 535.4 million

摘要

New York-Plains All American Pipeline said April 7 a subsidiary of its Canadian unit has acquired Canada's Rainbow Pipe Line for about C540 million {535.4 million).Plains also will acquire 1.1 million barrels of crude oil linefill at a cost based on crude prices at the deal's closing.Based on current costs,the value of the crude would be about C120 million (119 million).