Gibson Energy to buy South Texas Gateway oil terminal for $1.1 billion

Canadian energy infrastructure company Gibson Energy said on Wednesday it will buy the South Texas Gateway oil terminal from Buckeye Partners and its partners for $1.1 billion as it seeks to gain access to the U.S. crude export market. U.S. oil exports have surged in recent years, reaching a record level of about 4.5 million barrels per day in March, thanks to rising shale oil production, while the conflict between Russia and Ukraine has boosted demand for U.S. oil.