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{{Short description|Petroleum company}}
{{Infobox company
| name = Buckeye Partners, L.P.
| logo = [[File:Buckeye Partners logo.gif|right]]
| image = File:GreenwayPlazaTowers.JPG
| image_size =
| image_alt =
| image_caption = Global headquarters of Buckeye Partners in [[Greenway Plaza]]
| type = [[Subsidiary]] (1886–[[Standard Oil Co. of New Jersey v. United States|1911]], 1964-1986, 2019-present) <br/>[[Private company|Private]] (1911-1964, 1986-2006) <br/>[[Public company|Public]] (2006-2019){{cn|date=October 2022}}
| traded_as = {{nyse|BPL}} (2006-2019)
| foundation = 1886 as Buckeye Pipeline Company
| ___location = [[Houston|Houston, Texas]], United States
| key_people = Todd J. Russo, [[Chief Executive Officer|CEO]]
| products = [[Pipeline transport|Pipelines & Terminals]]
| homepage = [http://www.buckeye.com buckeye.com]
| industry = [[Petroleum]]
| num_employees = 1,870<ref>{{Cite web|url=http://fortune.com/fortune500/buckeye-partners/|title=Buckeye Partners|website=Fortune|access-date=2019-02-05}}</ref>
| num_employees_year = 2017
| revenue = {{increase}}[[United States Dollar|US$]]6.620 Billion <small>(''FY 2014'')</small><ref name="10-K">{{cite web | url=https://www.sec.gov/Archives/edgar/data/805022/000110465915014438/a14-26328_110k.htm | title=2014 10-K SEC Filing for Buckeye Partners | publisher=Securities and Exchange Commission | accessdate=24 March 2015}}</ref>
| net_income = {{increase}}[[United States Dollar|US$]]274.9 Million <small>(''FY 2014'')</small><ref name = 10-K />
| assets = {{increase}}[[United States Dollar|US$]]8.086 Billion <small>(''FY 2014'')</small><ref name = 10-K />
| equity =
| owner = [[Standard Oil]] (1886-[[Standard Oil Co. of New Jersey v. United States|1911]])
[[Penn Central Transportation Company|Penn Central]] (1964-1986)
[[IFM Investors]] (2019-present)
}}
'''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>{{Cite book |title=Staff Oil Pipeline Handbook |publisher=Federal Energy Regulatory Commission, Office of the General Counsel, Gas and Oil Litigation Division, Volume I |year=1992 |edition=2nd |___location=Washington, D.C. |pages=62659 |language=en}}</ref> Its global headquarters is located in [[Houston]]'s [[River Oaks District]], and it maintains an additional U.S. headquarters in [[Allentown, Pennsylvania]].<ref>[http://www.buckeye.com/ContactUs/tabid/99/Default.aspx Contact Us]." Buckeye Partners. Retrieved on November 8, 2013. "One Greenway Plaza • Suite 600 • Houston, Texas 77046"</ref><ref>[https://www.dnb.com/business-directory/company-profiles.buckeye_pipe_line_company_l_p.6f822b9106cff55eef17f675b81cc5c7.html 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">{{cite web |title=History of Buckeye Partners, L.P. |url=http://www.fundinguniverse.com/company-histories/buckeye-partners-l-p-history/ |website=Funding Universe |accessdate=19 September 2019}}</ref> It existed as a subsidiary until it [[Successors of Standard Oil|became an independent company after Standard Oil's dissolution]] in 1911.<ref>{{Cite book |last=Walden |first=Gene |title=The 100 Best Dividend-paying Stocks To Own In America |publisher=Marathon International Book Company |year=2005 |isbn=1-928877-05-2 |___location=Maddison, IN |pages=94 |language=en}}</ref> It changed its name to Buckeye Partners in 1986 during a reorganization that transitioned it into a master limited partnership.<ref>{{Cite book |last1=Epstein |first1=Lita |url=https://books.google.com/books?id=HXTHdgJUZ5oC&dq=%22Buckeye+Partners%22+standard+oil+rockefeller&pg=PT161 |title=The Complete Idiot's Guide to the Politics Of Oil |last2=Jaco |first2=C. D. |last3=Neimann |first3=Julianne C. |date=2003-11-04 |publisher=Penguin |isbn=978-1-4406-9613-8 |language=en}}</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 plc|Shell]] was approved by the [[Federal Trade Commission]].<ref>{{Cite web |date=2004-09-27 |title=FTC Clears Buckeye Partners $517 Million Purchase of Shell Pipelines and Terminals |url=http://www.ftc.gov/news-events/news/press-releases/2004/09/ftc-clears-buckeye-partners-517-million-purchase-shell-pipelines-terminals |access-date=2022-07-07 |website=Federal Trade Commission |language=en}}</ref>
==External link==▼
Buckeye manages over {{convert|6200|mi|km}} 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 Transportation Company|Penn Central]] railroad.<ref>[http://www.buckeye.com/AboutUs/OrganizationalHistory/tabid/108/Default.aspx Buckeye Partnership About Us] Official organizational history</ref> Among Buckeye's clients were major [[Aviation in the New York metropolitan area|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]].{{Citation needed|date=October 2022}}
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">{{Cite web |last=Bennett |first=Stephen |date=2019-11-20 |title=Buckeye Partners Is Acquired by IFM Investors {{!}} Fuel Oil News |url=https://fueloilnews.com/2019/11/20/buckeye-partners-is-acquired-by-ifm-investors/ |access-date=2022-07-08 |website=fueloilnews.com |language=en-US}}</ref>
==Facilities==
*[[Perth Amboy Refinery]]<ref name=buck>{{cite news |title=Perth Amboy refinery to get new life from $200 million overhaul |url=http://www.nj.com/business/index.ssf/2012/08/perth_amboy_refinery_to_get_ne.html |quote= Buckeye Partners bought it from Chevron for $260 million, with plans to spend another $200 million or more expanding operations. |newspaper=[[NJ.com]] |date=August 8, 2012 |accessdate=2014-01-07 }}</ref><ref>[https://www.reuters.com/article/buckeye-pipeline-perthamboy-idUSL2E8DA8AC20120210 Buckeye Pipeline buys Chevron's NJ terminal] {{Webarchive|url=https://web.archive.org/web/20151002035418/http://www.reuters.com/article/2012/02/10/buckeye-pipeline-perthamboy-idUSL2E8DA8AC20120210 |date=2015-10-02 }} 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 USA|Shell Oil Company]]. Buckeye Partners acquired the system from Shell in 2004.<ref>{{cite web
|url=https://www.sec.gov/Archives/edgar/data/805022/000089322004002080/w03133e8vk.htm
|publisher=[[U.S. Securities and Exchange Commission]]
|title=Form 8-K, Buckeye Partners, L.P.
|date=September 30, 2004}}</ref>
== References ==
{{Reflist}}
* {{Official website}}
{{Standard Oil}}
{{Authority control}}
{{Portal bar|Texas|Companies|Energy}}
[[Category:Buckeye Partners| ]]
[[Category:Companies based in Houston]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Oil companies of the United States]]
[[Category:Oil pipeline companies]]
[[Category:American companies established in 1886]]
[[Category:Companies based in Harris County, Texas]]
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