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Slide #41. Buckeye Partners, L.P. — 20 liquid petroleum products terminals
Buckeye Partners, L.P. (BPL)
20 liquid petroleum products terminals
Buckeye Partners, L.P. announced that it has completed its purchase of 20 liquid petroleum products terminals with total storage capacity of approximately 39 million barrels for $850 million from Hess Corporation ("Hess"). The 19 domestic terminals are located primarily in major metropolitan locations along the U.S. East Coast and have approximately 29 million barrels of refined petroleum products storage capacity, including approximately 15 million barrels of capacity strategically located in New York Harbor. The terminal on St. Lucia in the Caribbean has approximately 10 million barrels of crude oil and refined petroleum products storage capacity and has deep-water access. This acquisition increases Buckeye's total liquid petroleum storage capacity by approximately 53 percent to over 110 million barrels. Hess' Retail Marketing Business will be a key customer at these facilities under a multi-year storage and throughput commitment.
Buckeye Partners is a holding company. Through its subsidiaries, Co. owns and operates integrated assets providing midstream logistic solutions, including transportation, storage, processing and marketing of liquid petroleum products. Co. has three segments: Domestic Pipelines and Terminals, which provides pipeline transportation services; Global Marine Terminals, which provides marine accessible bulk storage and blending services, rail and truck rack loading/unloading, and petroleum processing services in the East Coast and Gulf Coast regions of the U.S. and in the Caribbean; and Merchant Services, which distributes refined petroleum products in the continental U.S. and in the Caribbean.
Open the BPL Page at The Online Investor »
Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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