Buckeye to sell terminal and pipeline assets following strategic review
Published by Alex Hithersay,
Editorial Assistant
Hydrocarbon Engineering,
Buckeye Partners LP has announced that as a result of its strategic review it is selling its terminal assets.
Buckeye will execute a definitive agreement to sell a package of non-integrated domestic pipeline and terminal assets for cash proceeds of US$450 million.
The assets include: a jet fuel pipeline from Port Everglades, Florida, US to the Ft. Lauderdale and Miami, Florida airports; pipelines and terminal facilities serving the Reno, Nevada; San Diego, California and Memphis, Tennessee, all US, airports; and refined petroleum products terminals in Sacramento and Stockton, California, US.
The sale of both Buckeye’s VTTI equity interest and the asset package are expected to close by year end, subject to customary closing conditions including regulatory approvals.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/07112018/buckeye-to-sell-terminal-and-pipeline-assets-following-strategic-review/
You might also like
The Hydrocarbon Engineering Podcast - Overcoming downstream challenges with new technology
In this episode of the Hydrocarbon Engineering Podcast, Omar Sayeed, Centre of Excellence Leader for Reliability, and Rahul Negi, Director of AI and Industrial Autonomous, Honeywell Process Solutions, consider how new, innovative technology can help to overcome some of the challenges facing the downstream oil and gas sector.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.
