Exxon Mobil, Plains All American to create Permian pipeline joint venture

Irving-based Exxon Mobil Corp. (NYSE: XOM) is teaming up with Houston-based Plains All American Pipeline LP (NYSE: PAA) on a new joint venture.The companies announced June 12 that they signed a letter of intent to pursue creating the venture, which would build a pipeline to transport more than 1 million barrels of crude oil and condensate per day from the Permian Basin to the Texas Gulf Coast. Financial terms of the potential venture were not disclosed.The pipeline would originate in two West&he