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KingDMC

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KingDMC

Re: None

Monday, 02/23/2015 9:52:16 PM

Monday, February 23, 2015 9:52:16 PM

Post# of 1996
Buckeye Partners Offers to Resolve Dispute Over Jet Fuel Charges

Source: Dow Jones News
Buckeye Partners LP (BPL) is setting aside $40 million as part of a settlement offer to resolve a dispute with several U.S. airlines over how much it charges for jet fuel to New York City area airports.

The master limited partnership said it would revise its fourth quarter and 2014 results to account for the settlement offer. If approved by the airlines, it would settle claims for allegedly excessive charges through Dec. 31.

Delta Air Lines, JetBlue Airways, United Continental, US Airways, and American Airlines filed a complaint with the Energy Regulatory Commission in 2012.

Buckeye's shares closed at $76.47 on Monday, down 1%. Shares are up 4% over the past 12 months.
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