Buckeye GP Holdings L.P. (BGH)

Buckeye GP Holdings L.P., through its general partner interests in Buckeye Partners, L.P., engages in the transportation, terminalling, and storage of refined petroleum products for integrated oil companies, refined products marketing companies, and end users of petroleum products. The company operates in three segments: Pipeline Operations, Terminalling and Storage, and Other Operations. The Pipeline Operations segment owns and operates petroleum products pipelines that transports refined petroleum products, including gasoline, jet fuel, diesel fuel, heating oil, kerosene and natural gas liquids, propane and butane, refinery feedstock, and blending components. As of December 31, 2007, the segment owned and operated approximately 5,400 miles of pipeline serving 17 states, and operated approximately 2,700 miles of other pipelines under agreements with oil and chemical companies. The Terminalling and Storage segment owns 50 terminals located in Illinois, Indiana, Massachusetts, Michigan, Missouri, New York, Ohio, Pennsylvania, and Wisconsin that provides bulk storage and throughput services and has the capacity to store an aggregate of approximately 19.6 million barrels of refined petroleum products. The Other Operations segment includes pipeline operation and maintenance services and pipeline construction services for third parties pursuant to contractual arrangements. It owns an approximately 23-mile pipeline located in Texas and leases a portion of the pipeline to a third-party chemical company. This segment also owned approximately 63% interest in a crude butadiene pipeline, as well as owns and operates an ammonia pipeline in Texas. In addition, it provides engineering and construction management services to chemical companies in the Gulf Coast area. MainLine Management LLC serves as the general partner of Buckeye GP Holdings L.P. The company was founded in 1986 and is headquartered in Breinigsville, Pennsylvania.

For the nine months ended 30 September 2006, Buckeye GP Holding L.P.'s revenues rose 11% to $333.8M. Net income increased 2% to $5.7M. Revenues reflect increased sales in the Pipeline Operations segment and Terminalling & Storage segment coupled with acquisitions of petroleum products pipelines and systems from Shell and ExxonMobil. Net income was partially offset increased operating expenses and higher depreciation & amortisation expenses.