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 crud ...

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. Its global headquarters is located in

Houston Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 i ...

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 John Davison Rockefeller Sr. (July 8, 1839 – May 23, 1937) was an American business magnate and philanthropist. He has been widely considered the wealthiest American of all time and the richest person in modern history. Rockefeller was ...

'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 Shell may refer to: Architecture and design * Shell (structure), a thin structure ** Concrete shell, a thin shell of concrete, usually with no interior columns or exterior buttresses ** Thin-shell structure Science Biology * Seashell, a hard o ...

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 the ...

railroad. Among Buckeye's clients were major

airports in New York City The New York metropolitan area has the busiest airport system in the United States and the second busiest in the world after London. It is also the most frequently used port of entry and departure for international flights. In 2011, more than 10 ...

, 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. Th ...

. In 2019,

IFM Investors IFM Investors is a provider of investment services. As at 30 June 2021, IFM Investors invests on behalf of more than 550 institutions worldwide, including pension, superannuation and sovereign wealth funds, universities, insurers, endowment fun ...

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 The Wood River Refinery is an oil refinery located in Roxana, Illinois, approximately north of St. Louis, Missouri, on the east side of the Mississippi River. The refinery is currently owned by Phillips 66 and Cenovus Energy and operated by the ...

Roxana, Illinois Roxana is a village in Madison County, Illinois, United States. The population was 1,542 at the 2010 census. A majority of the land in Roxana is taken up by the Wood River Refinery, an oil refinery operated by Phillips 66. The refinery was orig ...

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 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 18,0 ...

. 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