ONEOK and MPLX to form a $1.4bn Texas City Logistics joint venture.

ONEOK, an American oil and gas midstream operator, and MPLX, an owner and operater of midstream energy infrastructure and logistics assets, agreed to form a $1.4bn Texas City Logistics joint venture. "We are excited to collaborate with MPLX on these strategically located projects which expand and extend our NGL value chain providing additional optionality and value to our customers. Given our high expectations for future growth and demand for more energy infrastructure, including export capacity, these projects with MPLX complement our disciplined capital allocation strategy," Pierce Norton II, ONEOK President and CEO.