Exhibit 99.1


  Pacific Energy Partners, L.P. Announces Cash Distribution Increase
              and Closing of EPTC Facilities Acquisition

    LONG BEACH, Calif.--(BUSINESS WIRE)--July 31, 2003--Pacific Energy
Partners, L.P. (NYSE:PPX) announced the closing today of the
acquisition of Southern California Edison Company's Edison Pipeline
and Terminal Company ("EPTC") assets by Pacific Terminals LLC, a
wholly-owned subsidiary of Pacific Energy Partners, L.P.
    Irvin Toole, Jr., President and CEO of the Partnership's general
partner, said, "We are extremely pleased to close this strategic
acquisition. These high quality assets add a substantial petroleum
storage and terminaling system to our West Coast operations. The
assets are complementary to our existing pipeline assets in the Los
Angeles Basin and will enhance our ability to serve the needs of our
Los Angeles customer base. The assets will provide the opportunity for
the Partnership to participate in the rapidly growing crude oil import
market. The storage facilities are also well positioned to serve local
refiners who desire additional crude oil and feedstock storage to
augment their refining and processing requirements."
    Mr. Toole continued, "As we have indicated previously, we expect
this acquisition to be accretive to both net income and distributable
cash flow. Although the current market for storage of gas oils has
weakened in relation to the market earlier in the year, based on
discussions with our customers, we see a strengthening of this market
during the fourth quarter of 2003. As a result of the additional
income associated with this acquisition, we expect to increase our
third quarter cash distribution, payable in mid-November 2003, from
the current $0.4625 per unit to $0.4875 per unit, an increase of
$0.025 per unit, or 5.4%. The indicated annual rate would be $1.95 per
unit compared to $1.85 per unit currently. In addition, we are
increasing our guidance for net income per unit for the full year 2003
to be in the range of $1.15 to $1.25 per unit. We are forecasting net
income for third quarter 2003 to be in the range of $0.28 to $0.32 per
unit."
    The acquired assets consist of 119 miles of distribution pipelines
and 34 storage tanks with a total of approximately 9.4 million barrels
of storage capacity, of which approximately 6.7 million barrels are in
active commercial service. Approximately 2.1 million barrels of
storage that is currently idle could be brought into commercial
service after reconditioning based on market requirements. The
facilities specialize in the storage and distribution of crude oil and
other dark products and serve major refineries, pipelines, and marine
terminals in the Los Angeles basin.
    The purchase price of these assets is $158.2 million, plus
approximately $9 million of post-closing adjustments for the value of
displacement oil, warehouse inventory, certain pre-closing capital
expenditures and other costs. In addition, transaction costs and
assumed liabilities total an estimated $3 million. Approximately 40%
of the purchase price will be allocated to land, with the balance
being allocated to depreciable tanks, pipelines and equipment. The
Partnership initially financed this acquisition with proceeds from its
$200 million revolving credit facility. In the second half of 2003,
the Partnership anticipates repaying a portion of this borrowing with
proceeds from the issuance of additional common units.
    Pacific Energy Partners, L.P., a Delaware limited partnership
headquartered in Long Beach, California, owns and operates crude oil
midstream assets in California and the Rocky Mountain region with over
3,000 miles of pipelines and 13.6 million barrels of storage capacity.
The Partnership is engaged in gathering, blending, transporting,
storing, marketing and distributing crude oil. The Partnership
generates revenues primarily by charging tariff rates for transporting
crude oil through its pipelines and now, as a result of this
acquisition, fee revenues from its storage and distribution
operations.

    This news release may include "forward-looking" statements within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical fact included or
incorporated herein may constitute forward-looking statements. The
forward-looking statements involve risks and uncertainties that may
affect the Partnership's operations, financial performance and other
factors discussed in its filings with the Securities and Exchange
Commission ("SEC"). Among the factors that could cause results to
differ materially are those risks discussed in the Partnership's SEC
filings including our Annual Report on Form 10-K for the year ended
December 31, 2002.

    CONTACT: Pacific Energy Partners, L.P.
             Thomas L. Lambert, 562-728-2871
             Fax: 562-728-2881