Magellan Midstream Partners
Acquisition in 2023
Magellan Midstream Partners is a master limited partnership that specializes in the transportation, storage, and distribution of refined petroleum products and crude oil across the United States. The company operates the longest refined products pipeline system in the country, which facilitates the movement of gasoline, distillates, aviation fuels, and liquefied petroleum gases. Its clientele includes independent refiners, integrated oil companies, wholesalers, retailers, and agricultural cooperatives. Magellan's operations are structured into three segments: Refined Products, Crude Oil, and Marine Storage, with refined products accounting for approximately 70% of its operating margin. The company also provides various services such as terminalling, additive injection, custom blending, and laboratory testing. Additionally, it manages crude oil pipelines, storage facilities, and marine terminals that support distribution and inventory management for refiners and other petroleum product end-users. Headquartered in Tulsa, Oklahoma, Magellan Midstream Partners has established itself as a key player in the energy sector since its founding in 2000.