Buckeye Partners, formerly known as the Buckeye Pipeline Company, is a distributor of petroleum 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's Greenway Plaza, 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'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 was approved by the Federal Trade Commission. More information...
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