Sunoco buy­ing En­ergy Trans­fer

China Daily (USA) - - BUSINESS -

Sunoco Lo­gis­tics Part­ners LP is buy­ing ri­val En­ergy Trans­fer Part­ners, in a stock deal worth about $20 bil­lion that the en­ergy com­pa­nies hope will boost their op­er­a­tions. But shares for both com­pa­nies fell in trad­ing. The deal comes as En­ergy Trans­fer re­mains at the cen­ter of con­tro­versy over the Dakota Ac­cess oil pipe­line, that will trans­fer oil from North Dakota to Illi­nois. Con­struc­tion of the $3.8 bil­lion pipe­line has been the ob­ject of protests for months by the Stand­ing Rock Sioux In­di­ans.

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