Buckeye Partners LP (NYSE:BPL) is an MLP that operates one of the largest independent refined petroleum product pipeline systems in the US. The partnership has over 6,000 miles of pipelines and owns approximately 120 liquid petroleum terminals with a storage capacity of over 110 million barrels. BPL operates ~2,800 miles of pipeline under agreements with major oil and chemical companies. The partnership markets refined products and also owns a major natural gas storage facility in northern California.
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According to a presentation given at yesterday's annual meeting, BPL operates three business segments: Domestic Pipelines and Terminals account for 71% of adjusted EBITDA, Global Marine Terminals 25%, and Buckeye Services 4%. Over the past 5 years, BPL...
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