In 1886, The
Buckeye Pipe Line Company was incorporated as a subsidiary of
the Standard Oil Company. After Standard Oil’s dissolution in
1911, Buckeye Partners became an independent publicly owned
company. An expansion into the transportation of petroleum products
following WW2 led to Buckeye becoming one of the nation’s largest
independent common carrier pipeline companies. A subsidiary of the
Pennsylvania Railroad acquired Buckeye in 1964. In 1986, Buckeye was
reorganized into the publicly traded master limited partnership that
remains to this day.
Buckeye Partners owns and operates over 5,000 miles of
underground petroleum products pipelines, primarily in the upper
Midwest and Northeastern states. Major pipeline and terminal
acquisitions were made from Shell Oil and ExxonMobil.
Buckeye pipelines carry a variety of products including heating oil,
kerosene, gasoline, diesel fuel, and jet fuel, as well as propane,
butane, and natural gas liquids. Pipeline transportation is usually
provided on a common-carrier basis for over 100 clients. Buckeye
also maintains and operates over 2,000 miles of pipelines and
underground storage facilities in Louisiana and Texas. A 350-mile
pipeline from Colorado to Kansas was acquired from BP Pipelines
in 2006.
Buckeye Partners owns more than 60 refined petroleum products
terminals in Illinois, Indiana, Massachusetts, Michigan, Missouri,
New York, Ohio, Pennsylvania, Tennessee and Wisconsin, as well as
natural gas storage facilities in California. The Buckeye Energy
Services subsidiary is an independent fuel distributor in the
Mid-Atlantic region.
Buckeye Partners, LP also owns a 20% interest in West
Texas LPG Pipeline, a 75% interest in WesPac
Pipelines-Memphis LLC, is a 50% or more owner of joint venture
projects with Kealine Partners and has a 25% equity interest
in West Shore Pipe Line Company.
Lodi Gas Storage, a subsidiary of Buckeye Partners since
2008, owns natural gas storage facilities in northern California
that are connected to Pacific Gas and Electric intrastate
pipelines serving Sacramento and San Francisco.
Buckeye’s Farm & Home Oil Company subsidiary, acquired in
2008 by Buckeye Energy Services, is an independent wholesale
distributor of heating oil, gasoline, diesel, kerosene and propane
in the Mid-Atlantic region.
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