Bloomberg News

Buckeye Sees Opportunities to Ship Bakken Oil to Perth Amboy

August 03, 2012

Buckeye Partners LP (BPL:US) has identified potential opportunities for the handling and storage of Bakken crude oil from North Dakota at a New Jersey terminal, Chief Executive Officer Clark Smith said in an earnings call.

There has been “strong customer interest” for Bakken crude at the company’s Perth Amboy facility, which is “well- suited” to handle rail shipments of the grade, he said.

Buckeye on July 26 completed the purchase of the Perth Amboy Marine terminal from Chevron for $260 million, Smith said. The site includes 4 million barrels of storage, he said.

To contact the reporter on this story: Paul Burkhardt in New York at pburkhardt@bloomberg.net

To contact the editor responsible for this story: David Marino at dmarino4@bloomberg.net


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Companies Mentioned

  • BPL
    (Buckeye Partners LP)
    • $76.87 USD
    • -3.74
    • -4.87%
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