Profile: Buckeye Partners LP (BPL)
16 Mar 2018
Buckeye Partners, L.P. (Buckeye), incorporated on July 11, 1986, owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. The Company's segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services. Buckeye GP LLC (Buckeye GP) is the Company's general partner. The Company is an independent terminaling and storage operator in the United States in terms of capacity available for service. As of December 31, 2016, the Company's terminal network included more than 120 liquid petroleum products terminals with aggregate storage capacity of over 115 million barrels across its portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast, Midwest and Gulf Coast regions of the United States and in the Caribbean.
The Company's marine terminal in The Bahamas, Buckeye Bahamas Hub Limited (BBH), which operates a marine crude oil and refined petroleum products storage facility and provides an array of logistics and blending services for petroleum products. Its network of marine terminals enables it to facilitate global flows of crude oil and refined petroleum products, offering its customers connectivity between supply areas and market centers through bulk storage and blending hubs. The Company is also a wholesale distributor of refined petroleum products in areas served by its pipelines and terminals. Buckeye operates and maintains third-party pipelines under agreements with oil and gas, petrochemical and chemical companies, which are located primarily in Texas and Louisiana, and performs pipeline construction management services. It offers turnkey operations and maintenance, asset development and construction services for third-party pipeline and energy assets across the United States.
Domestic Pipelines & Terminals
As of December 31, 2016, the Domestic Pipelines & Terminals segment owned and operated approximately 6,000 miles of pipeline located primarily in the northeastern and upper Midwestern portions of the United States, and serviced approximately 110 delivery locations. This segment transports liquid petroleum products, including gasoline, jet fuel, diesel fuel, heating oil and kerosene from various supply sources to terminals and airports located within end use markets. The pipelines within this segment also transports other refined petroleum products, such as propane and butane, refinery feedstock and blending components, as well as crude oil. As of December 31, 2016, the segment also included approximately 115 active terminals that provide bulk storage and throughput services with respect to liquid petroleum products and renewable fuels, including ethanol, and had an aggregate storage capacity of over 55 million barrels.
In addition, three of its terminals provide crude oil services, including train loading/unloading, storage and throughput. It provides pipeline transportation services in states, including California, Connecticut, Florida, Illinois, Indiana, Iowa, Maine, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania and Tennessee. The Domestic Pipelines & Terminals segment's terminals receive products from pipelines and, in certain cases, barges, ships or railroads, and distribute them to third parties. This segment's terminals move products to the end user market by providing product receipt, storage and distribution capabilities, inventory management, ethanol and biodiesel blending, and other ancillary services that include the injection of various additives.
Global Marine Terminals
The Global Marine Terminals segment provides marine accessible bulk storage and blending services, rail and truck rack loading/unloading, along with petroleum processing services in the East Coast and Gulf Coast regions of the United States and in the Caribbean. The segment has seven liquid petroleum product terminals located in The Bahamas, Puerto Rico and St. Lucia in the Caribbean and the New York Harbor and Corpus Christi, Texas in the United States. BBH also offers berthing, heating, transshipment, product treating and bunkering services. As of December 31, 2016, BBH's terminaling facility included more than 80 aboveground storage tanks, which store crude oil, fuel oil and refined petroleum products. The existing marine infrastructure of BBH's terminaling facility consists of three deep-water jetties, which provides six deep-water berths and an inland dock with two berths that serve as the access points to the storage facilities and marine bunkering services.
The Yabucoa terminal sits in the southeast of Puerto Rico. As of December 31, 2016, it included 40 storage tanks, which store gasoline, jet fuel, diesel, fuel oil and crude oil. The facility provides terminaling services for the handling, blending and distribution of liquid petroleum products within the Puerto Rico market, as well as residual fuel oil and petroleum distillate fuel for the local and regional Caribbean markets. The New York Harbor storage and marine terminals, which consist of its Perth Amboy, Port Reading and Raritan Bay terminals, provide a link between its inland pipelines and terminals and its BBH facility. The Perth Amboy facility sits on the Arthur Kill tidal strait in Perth Amboy, New Jersey at six miles from its Linden, New Jersey complex, and has water, pipeline, rail and truck access. As of December 31, 2016, the Port Reading terminal is located in Port Reading, New Jersey and included approximately 69 storage tanks, a deep-water dock and five operational berths, allowing for both ship and barge berthing.
The Raritan Bay terminal is located on the Raritan River in Perth Amboy, New Jersey. As of December 31, 2016, the Raritan Bay terminal included 30 storage tanks, a barge dock and two operational berths. As of December 31, 2016, the Perth Amboy, Port Reading and Raritan Bay terminals had approximately four million, six million and five million barrels of liquid petroleum products storage capacities respectively. These terminals extend Buckeye's connectivity in New York Harbor by offering storage capabilities that include terminaling services for gasoline, blend stocks, distillate and fuel oil. Its St. Lucia terminal sits on Cul de Sac Bay in St. Lucia. It had over 10 million barrels of crude oil and refined petroleum products storage capacity. The facility provides transshipment services for the handling, blending and distribution of crude oil from growing Latin American production to the United States and global refining centers. Access to the St. Lucia terminal is provided through over two ship docks and a truck rack. As of December 31, 2016, the Corpus Christi facilities had over five vessel berths, including three deep-water docks, two 25,000 barrels per day condensate splitters and approximately 6.7 million barrels of liquid petroleum products storage capacity.
The Merchant Services segment is a wholesale distributor of petroleum products in the continental United States and in the Caribbean. The Merchant Services segment's products include gasoline, propane, ethanol, biodiesel, and petroleum distillates, such as heating oil, diesel fuel and kerosene. The Merchant Services segment owns three terminals in Pennsylvania. The Merchant Services segment's customers consist principally of product wholesalers, as well as commercial users of these refined petroleum products. The segment also provides fuel oil supply and distribution services to third parties in the Caribbean. The Merchant Services segment's operations include over three categories based on the type of fuel delivered and the delivery method: Wholesale, Wholesale Delivered and Branded Gasoline. Its Wholesale operations include liquid fuels and propane gas that are delivered to distributors and commercial customers. These customers take delivery of the products using truck loading equipment at storage facilities. Its Wholesale Delivered operations include liquid fuels that are delivered to commercial customers, construction companies, school districts and trucking companies through third-party carriers or through vessel using the Company's marine terminals. Its Branded Gasoline operations include gasoline and on-highway diesel fuel that are delivered through third-party trucking companies to independently owned retail gas stations under various gasoline brands.
Buckeye Partners LP
1 Greenway Plz Ste 600
HOUSTON TX 77046-0121
Company Web Links
- BRIEF-Buckeye Partners L.P. Does Not Expect Material Impact From Recent FERC Income Tax Allowance Ruling
- BRIEF-Buckeye Partners Announces $265 Mln Private Placement Of Class C Units
- BRIEF-Buckeye Partners Reports Q4 EPS Of $0.85
- BRIEF-Buckeye Partners Prices $400 Mln Offering Of 6.375% Junior Subordinated Notes
- BRIEF-Buckeye Partners LP Files For Shelf Of Up To $1 Billion