Buckeye Partners Drops Weak Assets in Favor of Permian, Gulf Coast Projects

SUGAR LAND--November 5, 2018--Researched by Industrial Info Resources (Sugar Land, Texas)--Following a somewhat disappointing third quarter, midstream and terminal services provider Buckeye Partners LP (NYSE:BPL) (Houston, Texas) announced plans to shift more of its capital spending toward higher-return growth opportunities from existing assets. A heavy goodwill impairment charge and concerns about oversupply in the oil market dragged down Buckeye's most recent quarterly results. Industrial Info is tracking more than $1.5 billion in active projects involving Buckeye.

Within this article: Details on some of the highest-valued projects involving Buckeye, including those related to oil produced in the Permian Basin and a major European entity that the company plans to sell off.

Other companies featured: Phillips 66 (NYSE:PSX), Marathon Petroleum Corporation (NYSE:MPC)