Magellan snaps up BP midstream package

**FILE** An unidentified worker turns a valve along an oil pipeline at dusk in this Sept. 19, 2007 file photo, in Sakhir, Bahrain. Energy futures fell Monday, Sept. 24, 2007 after a tropical depression that moved the Gulf of Mexico late last week turned out to be a dud. (AP Photo/Hasan Jamali, file)

HASAN JAMALI

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By News Wires

 13 July 2010 17:05 GMT

Magellan Midstream Partners said it will buy crude oil storage and active petroleum pipelines from a BP unit for $289 million to increase its presence in Cushing, Oklahoma and Houston, Texas.

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