Buckeye Partners, formerly known as the Buckeye Pipeline Company, is a distributor of

petroleum Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crude ...

in the East and Midwest areas of the United States. A direct descendant of

Standard Oil Standard Oil Company, Inc., was an American oil production, transportation, refining, and marketing company that operated from 1870 to 1911. At its height, Standard Oil was the largest petroleum company in the world, and its success made its co- ...

, the company is considered one of the largest independent oil pipelines in the United States. Its global headquarters is located in

Houston Houston (; ) is the List of cities in Texas by population, most populous city in Texas, the Southern United States#Major cities, most populous city in the Southern United States, the List of United States cities by population, fourth-most pop ...

Greenway Plaza Greenway Plaza is a business district located along Interstate 69 ( U.S. Highway 59) within the Interstate 610 loop in southwestern Houston, Texas, west of Downtown and east of Uptown. The district is located immediately west of Upper Kirby, ...

, and it maintains an additional U.S. headquarters in Emmaus, Pennsylvania. Its predecessor company, the Buckeye Pipe Line Company, was founded in 1886 as part of John D. Rockefeller's Standard Oil. It existed as a subsidiary until it became an independent company after Standard Oil's dissolution in 1911. It changed its name to Buckeye Partners in 1986 during a reorganization that transitioned it into a master limited partnership. 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. Buckeye manages over of petroleum pipelines and over 100 truck-loading terminals. Many of its pipelines follow historic Northeastern

railroad Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a pre ...

rights-of-way, and the firm is a surviving fragment of the defunct

Penn Central The Penn Central Transportation Company, commonly abbreviated to Penn Central, was an American class I railroad that operated from 1968 to 1976. Penn Central combined three traditional corporate rivals (the Pennsylvania, New York Central and th ...

railroad. 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 The 2007 John F. Kennedy International Airport attack plot was an alleged Islamist terrorist plot to blow up a system of jet fuel supply tanks and pipelines that feed fuel to John F. Kennedy International Airport (JFK) in Queens, New York. T ...

. 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". Digging warning stake of Buckeye Pipe Line, LIC jeh

Digging warning stake of Buckeye Pipe Line, LIC jeh

Facilities

* Perth Amboy Refinery *The North Line System - A 309 mile refined products pipeline connecting Wood River Refinery in Roxana, Illinois to a company terminal in

Peotone, Illinois Peotone () is a village in Will County, Illinois, United States. The population was 4,142 at the 2010 census, an increase from 3,385 in 2000. The city is about south of Chicago. The village is home to the Peotone High School Blue Devils. History ...

. The system includes two onward connections, one to

Hammond, Indiana Hammond ( ) is a city in Lake County, Indiana, Lake County, Indiana. It is part of the Chicago metropolitan area, and the only city in Indiana to border Chicago. First settled in the mid-19th century, it is one of the oldest cities of northern L ...

and one to a company terminal in Summit, Illinois. The 96,000 barrel-per-day pipeline was constructed in 1952 by

Shell Oil Company Shell USA, Inc. (formerly Shell Oil Company, Inc.) is the United States-based wholly owned subsidiary of Shell plc, a UK-based transnational corporation "oil major" which is amongst the largest oil companies in the world. Approximately 18,000 ...

. Buckeye Partners acquired the system from Shell in 2004.

References

External links

Official website
{{Authority control Companies based in Houston Companies listed on the New York Stock Exchange Companies based in Lehigh County, Pennsylvania Oil companies of the United States Oil pipeline companies