FYI: Business
BY Wire reports
Wednesday, October 10, 2012
10/10/12 at 2:29 AM
United Refining to buy Phillips 66 oil terminal
United Refining Co., the company run by billionaire John Catsimatidis, has agreed to buy Phillips 66's petroleum terminal on Long Island for an undisclosed amount.
The terminal in Riverhead, N.Y., has more than 5 million barrels of petroleum storage capability and is the only deep water loading and unloading platform on the East Coast, Houston-based Phillips 66 said in a statement Tuesday.
The deal is expected to close by the end of October.
Telecom wiretap immunity affirmed
The Supreme Court left in place a federal law that gives telecom companies legal immunity for helping the government with its email and telephone eavesdropping program.
The justices said Tuesday they will not review a court ruling that upheld the 2008 law against challenges brought by privacy and civil liberties advocates.
The companies include AT&T Inc., Sprint Nextel Corp. and Verizon Communications Inc.
