Houston’s Converge Midstream Said To File Suit Against Magellan Midstream for “Anti-Competitive Practices”

May 3, 2022 -- Houston's Converge Midsteam says it's filed a lawsuit against Tulsa-based Magellan Midstream Partners and subsidiary Magellan Crude Oil Pipeline Company, L.P., claiming anti-competitive practices that should have been eliminated with the settlement of a 2017 complaint to the Railroad Commission of Texas (RRC). The suit asks for damages that could run to the hundreds of millions and was filed in a Harris County court May 3rd, claiming that Magellan "systematically" shut out or impeded Converge’s operations as well as those of other potential competitors in a manipulation of markets, a breach of Texas law requiring companies with common carrier status, such as Magellan, to work for the public good. A statement from Magellan is expected soon regarding the lawsuit. The RRC complaint ...
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