Buckeye

Background

Buckeye Partners LP operates interstate pipelines and storage terminals with assets in the United States. Subsidiaries include West Shore Pipeline, Everglades Pipe Line, Gulf Coast Pipeline, Laurel Pipe Line, Lodi Gas Storage, NORCO Pipe Line, WesPac Pipelines, and Wood River Pipe Lines. Operations are organized into three business units: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services.

Buckeye Pipe Line was created in 1886 as a subsidiary of Standard Oil. The company became independent following the dissolution of Standard Oil in 1911 and acquired by the Pennsylvania Railroad in 1964. Buckeye was spun off in 1986 as a master limited partnership. Bahamas Oil Refining (BORCO) was acquired in 2011. IFM Investors reached an agreement to take Buckeye private in 2019. In June 2021, the company agreed to acquire Magellan Midstream's independent refined product terminals for $435 million.

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Energy Transfer

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