Income from continuing operations attributable to Buckeye’s unitholders was $1.07 per diluted unit for the second quarter of 2016 compared to $0.71 per diluted unit for the second quarter of 2015.  The diluted weighted average number of units outstanding in the second quarter of 2016 was 131.2 million compared to 128.2 million in the second quarter of 2015.

Adjusted EBITDA (as defined below) from continuing operations for the second quarter of 2016 was $256.6 million compared to $206.5 million for the second quarter of 2015.  Distributable cash flow (as defined below) from continuing operations for the second quarter of 2016 was $183.1 million compared to $144.9 million for the second quarter of 2015.  Buckeye also reported distribution coverage of 1.15 times for the second quarter of 2016.

“I’m pleased to report that Buckeye Partners posted very strong results for the second quarter of 2016.  These results continue to highlight the benefits of our diversified portfolio of fee-based assets,” said Clark C. Smith, Chairman, President and Chief Executive Officer.  “All of our segments contributed to the improved performance over the year-ago quarter.  The Global Marine Terminals segment drove significant growth, primarily attributable to the incremental contribution from the completion of the buildout at our Buckeye Texas Partners joint venture, as well as strong demand for storage services across that segment’s legacy assets.  Our Domestic Pipelines & Terminals business capitalized on favorable market conditions to drive incremental transportation and throughput revenues across our pipeline and terminal system while continuing to increase utilization of segregated storage across the domestic system.  Our merchant business continued to drive volumes across our system, while creating value through effective supply management.”

“We believe our second quarter performance demonstrates the success of both our commercial and operating models.  Our ability to execute on investment opportunities and capitalize on favorable market conditions contributed to our record results,” continued Mr. Smith.  “Our domestic business, in particular, benefited from temporary shifts in supply and pricing differentials that drove a more favorable mix of long-haul pipeline movements during the second quarter that contributed to these exceptional results.  Looking forward, we believe we have a robust backlog of potential strategic capital investment opportunities across the Buckeye system that our teams are evaluating as we seek to maximize the value of our asset portfolio, while also continuing to focus on improving operational efficiencies across the organization.”