Market Overview

Magellan Midstream and Occidental Petroleum Jointly Seek Commitments for Proposed BridgeTex Pipeline

Magellan Midstream Partners, L.P. (NYSE: MMP) and Occidental Petroleum Corporation (NYSE: OXY) announced today the launch of an open season to jointly assess customer interest to transport crude oil from Colorado City, Texas to the Houston Gulf Coast area. Interested customers must submit binding commitments by July 11, 2012.

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