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Monday, June 17, 2019

Buckeye Partners News

Photo: Buckeye Partners, L.P

Buckeye Partners JV Announces Marine Terminal in Texas

Buckeye Partners announced the formation of a joint venture with Phillips 66 Partners and Andeavor to develop a new deep-water, open access marine terminal in Ingleside, Texas. The South Texas Gateway Terminal will be constructed on a 212 acre waterfront parcel at the mouth of Corpus Christi Bay. The facility is positioned to serve as the primary outlet for crude oil and condensate volumes delivered off of the planned Gray Oak pipeline from the Permian Basin. The terminal, to be constructed and operated by Buckeye…

Buckeye Partners Resumes Operation in Puerto Rico

Buckeye Partners has resumed full operations at its oil terminal and storage tanks in Puerto Rico two weeks after it closed the facility ahead of Hurricane Maria, the company said on Tuesday. "Buckeye has safely resumed full service of its marine, truck and tank operations at the Yabucoa, Puerto Rico Terminal Facility and is available to meet the fuel needs of the island's businesses and residents," it said in a statement. The U.S. oil storage and transportation company operates the 4.6 million barrel Yabucoa oil storage facility. Reporting by Gary McWilliams

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Dominican Republic Shuts Most Ports ahead of Hurricane Maria

Dominican Republic closed most of its ports ahead of Hurricane Maria, but the country's 34,000-barrel-per-day refinery was still running, the government said on Wednesday. Ports that suspended operations under the "red alert" declared for extreme weather conditions are La Romana, Samana, Arroyo Barril, Puerto Plata and Manzanillo, the Dominican Port Authority said in a statement. Maria was a Category 4 hurricane when it hit Puerto Rico earlier on Wednesday. The ports of San Souci and Haina…

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Caribbean Oil Terminals Prepare for Hurricane Maria

Several Caribbean oil storage terminals that temporarily closed ahead of Hurricane Irma earlier this month have started making preparations in case they have to shut again due to Hurricane Maria, which was a rare Category 5 storm on Tuesday. Shippers and traders in the Atlantic basin are struggling amid this year's very active storm season, which has seen seven hurricanes so far, four of them major hurricanes, defined as at least a Category 3 on the five-step Saffir-Simpson scale. Hurricane Harvey hit the U.S.

Buckeye Partners Aims to Restart Corpus Christi Facility by Tuesday

U.S. oil terminal operator Buckeye Partners LP said on Monday it was working to fully restart operations at its oil processing facility in Corpus Christi, Texas, by early Tuesday afternoon. Based on the latest assessment of equipment, the company is working to fully restart operations in the next 24 hours, a spokesman told Reuters in an email. All employees have been safely accounted for and a regular work schedule has resumed at the Corpus Christi processing and marine terminal facilities, he said.

Photo: VTTI

Buckeye to Acquire 50% of VTTI Marine Terminal

Buckeye Partners LP, which operates pipelines and other transportation and storage assets for liquid petroleum products, said it bought a 50 percent stake in the marine terminal company  VTTI BV for $1.15 billion. VTTI is a unit of Vitol Group. The deal is expected to close in early January 2017. VTTI will be 50% indirectly owned by Buckeye and 50% indirectly owned by Vitol. It is intended that the joint shareholding of Buckeye and Vitol will add greater strategic value to VTTI and will further strengthen VTTI's position as a leading independent provider of energy storage solutions.

New Terminal to Provide US Port of Albany Crude Oil Storage

Buckeye Partners, sign a multi-year agreement with an Irving Oil subsidiary for multi-million barrel storage facility in Port of Albany on the Hudson River. The approximately 1.8-million barrel storage facility located within the Port of Albany along the Hudson River is expected to begin handling crude oil on November 1, 2012. Buckeye plans to make modifications to the Albany terminal that, once completed, will allow the terminal to handle both crude oil and ethanol unit-trains with a total capacity in excess of 135,000 barrels per day.