Buckeye Partners

Template:Short description {{#invoke:Infobox|infobox}}Template:Template otherTemplate:Main other{{#invoke:Check for clobbered parameters|check|nested=1|template=Infobox company|cat=Template:Main other|name; company_name|logo; company_logo|logo_alt; alt|trade_name; trading_name|former_names; former_name|type; company_type|predecessors; predecessor|successors; successor|foundation; founded|founders; founder|defunct; dissolved|hq_location; location|hq_location_city; location_city|hq_location_country; location_country|num_locations; locations|areas_served; area_served|net_income; profit|net_income_year; profit_year|owners; owner |homepage; website }}{{#invoke:Check for unknown parameters|check|unknown=Template:Main other|preview=Page using Template:Infobox company with unknown parameter "_VALUE_" | ignoreblank=y | alt | area_served | areas_served | assets | assets_year | aum | brands | company_logo | company_name | company_type | defunct | dissolved | divisions | embed | equity | equity_year | fate | footnotes | former_name | former_names | foundation | founded | founder | founders | genre | homepage | hq_location | hq_location_city | hq_location_country | incorporated | image | image_alt | image_caption | image_size | image_upright | income_year | industry | ISIN | key_people | location | location_city | location_country | locations | logo | logo_alt | logo_caption | logo_class | logo_size | logo_upright | members | members_year | module | name | native_name | native_name_lang | net_income | net_income_year | num_employees | num_employees_year | num_locations | num_locations_year | operating_income | owner | owners | parent | predecessor | predecessors | production | production_year | products | profit | profit_year | rating | ratio | revenue | revenue_year | romanized_name | services | subsid | successor | successors | traded_as | trade_name | trading_name | type | website| qid | fetchwikidata | suppressfields | noicon | nocat | demo | categories }} Buckeye Partners, formerly known as the Buckeye Pipeline Company, is a distributor of petroleum in the East and Midwest areas of the United States. A direct descendant of Standard Oil, the company is considered one of the largest independent oil pipelines in the United States.<ref>Template:Cite book</ref> Its global headquarters is located in Houston's River Oaks District, and it maintains an additional U.S. headquarters in Allentown, Pennsylvania.<ref>Contact Us." Buckeye Partners. Retrieved on November 8, 2013. "One Greenway Plaza • Suite 600 • Houston, Texas 77046"</ref><ref>Buckeye Pipe Line, Dun & Bradstreet</ref>

Its predecessor company, the Buckeye Pipe Line Company, was founded in 1886 as part of John D. Rockefeller's Standard Oil.<ref name="FU">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> It existed as a subsidiary until it became an independent company after Standard Oil's dissolution in 1911.<ref>Template:Cite book</ref> It changed its name to Buckeye Partners in 1986 during a reorganization that transitioned it into a master limited partnership.<ref>Template:Cite book</ref> The company expanded by buying oil pipelines from mainstream petroleum companies. In 1942, the company purchased Indiana Pipe Line. In 2004, its $517 million acquisition of refined petroleum pipelines and terminals from Shell was approved by the Federal Trade Commission.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Buckeye manages over Template:Convert of petroleum pipelines and over 100 truck-loading terminals. Many of its pipelines follow historic Northeastern railroad rights-of-way, and the firm is a surviving fragment of the defunct Penn Central railroad.<ref>Buckeye Partnership About Us Official organizational history</ref> Among Buckeye's clients were major airports in New York City, leading it to being listed by US federal prosecutors as among the targets of the 2007 John F. Kennedy International Airport attack plot.Template:Citation needed

In 2019, IFM Investors acquired Buckeye Partners for $10.3 billion in an all-cash deal, paying Buckeye Partners shareholders $41.50 per share. Buckeye Partners is now a wholly-owned subsidiary of IFM under its "Global Infrastructure Fund".<ref name=":0">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Facilities

• Perth Amboy Refinery<ref name=buck>Template:Cite news</ref><ref>Buckeye Pipeline buys Chevron's NJ terminal Template:Webarchive Reuters</ref>
• The North Line System - A 309 mile refined products pipeline connecting Wood River Refinery in Roxana, Illinois to a company terminal in Peotone, Illinois. The system includes two onward connections, one to Hammond, Indiana and one to a company terminal in Summit, Illinois. The 96,000 barrel-per-day pipeline was constructed in 1952 by Shell Oil Company. Buckeye Partners acquired the system from Shell in 2004.<ref>{{#invoke:citation/CS1|citation

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External links

• Template:Official website