The potential IPO would structure the assets as a master-limited partnership, a frequently used corporate structure for pipeline companies.
The oil major is evaluating an initial public offering of an MLP that could include crude oil, natural gas and refined petroleum product pipelines in the Midwest and Gulf Coast. The company said it could begin the regulatory process to form BP Midstream Partners by the end of the year.
The potential IPO would structure the assets as a master-limited partnership, a frequently used corporate structure for pipeline companies.