who owns the colonial pipeline

1961 - Suwannee Pipe Line company created by eight major oil companies for the purpose of building a refined products pipeline from the Gulf Coast to the East Coast; 1962 - Project renamed Colonial pipeline and the construction began with the addition of Mobil as the ninth owner The largest refined products pipeline in the U.S. is still shut down after a massive cyberattack on May 7. Colonial consists of more than 5,500 mi (8,900 km) of pipeline, originating at Houston, Texas, on the Gulf Coast and terminating at the Port of New York and New Jersey. Colonial pipeline, headquartered in alpharetta, georgia, is the largest u.s. A D&B Hoovers Subscription is your foot in the door to Colonial Pipeline Company contact information. Colonial is the largest refined products pipeline in the United States. The pipeline travels through the coastal states of Texas, Louisiana, Mississippi, Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Delaware, Pennsylvania, and New Jersey. Branches from the main pipeline also reach Tennessee. Experts say that it’s hard to predict the impact because the length of the shutdown brings different challenges. A former U.S. official and two industry sources have told Reuters that the group DarkSide is among the suspects. Colonial Pipeline shut down its massive oil pipeline after a ransomware attack took some of its systems offline. Fill out this form, and we'll contact you soon. Colonial said it’s likely to restore service on the majority of its pipeline by Friday. Colonial Pipeline is the country's largest refined products pipeline operator, transporting more than 100 million gallons of gasoline, diesel, jet fuel, and home heating oil, daily. Plantation Pipeline, even though it only extends as far north Washington D.C. and has a capacity of 720,000 barrels a day, far short of Colonial’s. He joined Colonial in October 2017 with more than three decades of experience in the energy industry. Find out more. The acquisition will increase Shell Midstream Partners’ total interest in Explorer to 38.59 percent and in Colonial to 16.125 percent. This number is assigned once our patented identity resolution process, part of our DUNSRight, Learn about how a Dun & Bradstreet D-U-N-S number can help your company succeed, Establish your business, get noticed, and control your story in the global marketplace, Look up a partner’s company or find your company’s D-U-N-S Number, View and update business information on your D&B Credit file, A leading global provider of business decisioning data and analytics for almost 200 years, Live Business Identity is the most comprehensive and continually updated view of a business entity, Our always-open marketplace for unique offers that help your business grow and thrive, Drive performance through our partnership program, D&B Accelerate, Information and resources about the performance of Dun & Bradstreet. Why It Matters: Colonial Pipeline is the biggest gasoline pipeline in the U.S., and the disruption could affect gasoline and diesel fuel supplies. Colonial Pipeline, the largest US refined fuel pipeline operator, has shut down operations because of a cyberattack, the company said. Joe is responsible for developing and executing the Company’s strategic direction and vision, as well as leading Colonial’s commitment to safe, reliable operations and organizational excellence. Major... Companies in this industry provide air, rail, truck, and waterborne transportation; transit and ground... See other industries within the Transportation Services Sector, Charter & Other Nonscheduled Air Transportation Services, Coastal & Great Lakes Freight Transportation, Information & Records Management Services, Port, Harbor & Marine Terminal Management, See who the company's key decision makers are. Its 1,830-mile pipeline transports gasoline, diesel, fuel oil and jet fuel with a capacity of 660,000 barrels per day. Sipa USA via AP A major oil pipeline that carries more than 100 … The next largest ownership stake of 23.44 percent is held by Kohlberg Kravis Roberts (KKR-Keats Pipeline Investors, L.P.), which includes South Korea's National Pension Service. With the nation’s largest gas pipeline out of commission, many fear shortages and long-term economic effects. Learn More About our Enterprise Analytics Solutions, go He said, “Expect significant fuel shortages in the interior Southeast of the U.S.” To encourage exports, refiners in the Gulf Coast would have to reduce their supplies, and oil prices might weaken compared to waterborne crudes. Reuters reports that industry giant Colonial Pipeline has … That gave them an enormous competitive advantage over the East Coast refineries that imported oil from abroad or by rail A cyberattack just led to a significant disruption of American infrastructure. This isn’t the first time the Colonial pipeline has made headlines in recent months. On Friday, Colonial Pipeline took many of its systems offline in the wake of a ransomware attack. Every day, Colonial Pipeline delivers more than 100 million gallons of gasoline, home heating oil, aviation fuel, and other refined The group released a statement on May 10 stating that DarkSide is apolitical and that it didn't mean to cause widespread disruption. It's the largest third-party gas processor in Western Canada, and … Colonial Pipeline delivers about 100 million gallons of gasoline, diesel, jet fuel, home heating oil, and military fuels per day to cities and businesses across the eastern and southern US. Colonial Pipeline owns and operates a 5,500-mile refined products pipeline, originating in Houston, Texas, and terminating in New York Harbor. Rough, tough, can't get enough. Founded in 1962 by nine oil companies, it's now owned by five entities spanning a few countries. Colonial Pipeline Company provides pipeline services. Detailed business credit reports and tools to simplify credit decisions and manage risk, Monitor, Manage, and Build Your Business Credit, Tools to help you monitor your company’s business credit scores and ratings. Who precisely is behind the disruptive intrusion into Colonial Pipeline hasn't been made officially known and digital attribution can be tricky, especially early on in an investigation. Colonial Pipeline has not answered questions about what kind of investment it had made in protecting its networks, and refused to say whether it was paying the ransom. The pipeline originates in the vicinity Houston, Texas. The Colonial Pipeline is a double pipeline that supplies gasoline and other refined petroleum products from the Gulf Coast to distribution points across the Eastern United States. The Colonial Pipeline carries 2.5 million barrels a day, which is almost half of the gasoline, diesel and other fuels used on the East Coast. After learning it was “the victim of a cybersecurity attack,” the pipeline operator on Friday took certain systems offline, temporarily halting pipeline operations and certain IT systems. Read added a warning about a longer duration shutdown that's longer than 10 days. Shell Midstream Partners will acquire Shell’s 25.97 percent equity interest in Explorer Pipeline Company (Explorer) and 10.125 percent equity interest in Colonial Pipeline Company (Colonial) for $800 million. But the mere fact that it could have done so alarmed outside security experts. Finally, Industry Funds Management (IFM US Colonial Pipeline 2, LLC) holds 15.80 percent. It is … Kinder Kinder See our, Petroleum and chemical bulk stations and terminals for hire, D&B Finance Analytics Credit Intelligence, Free Microsoft Outlook plugin to drive efficiency with on-demand sales intelligence. A … With systems offline to contain the threat, the company's pipeline system is inoperative. Install plugin and receive up to 50 free email contacts per month! BOSTON (CBS/AP) — Massachusetts gas prices are on the rise in the wake of the Colonial Pipeline cybersecurity attack. As a result, the East Coast would likely import a higher amount of waterborne fuel, which would create shortages in areas of the Southeast. Top 11 News results. By clicking the button above, you agree to our Terms of Use. In response, we proactively took certain systems offline to contain the threat, which has temporarily halted all pipeline operations, and affected some of our IT systems. President Joe Biden on Monday said there was no evidence thus far that Russia's government was involved, but said there was evidence that the culprits' ransomware was in Russia. Detailed profiles of all businesses owned and operated by this company for insights and prospecting. The more than 5,500-mile Colonial Pipeline system transports the fuels from Houston, Texas to Linden, New Jersey to more than 270 marketing terminals near major urban centers in the Southeast and along the Eastern Seaboard. A cyberattack has temporarily halted operations at Colonial Pipeline, the largest pipeline system for moving gas and diesel products in the U.S., the company said Friday. Combine your data with Dun & Bradstreet Data Cloud data to create new analytical models that can give you a competitive edge. © Copyright 2021 Market Realist. U.S. officials said Monday that the “ransomware” malware used in the attack didn’t spread to the critical systems that control the pipeline’s operation. The Colonial pipeline is responsible for 2.5 million gallons of fuel a day. Colonial Pipeline, the owner, halted all pipeline operations over the weekend, forcing what the company called a precautionary shutdown. Explorer continues to diversify its portfolio of services for its shippers. For dynamic search and list-building capabilities, real-time trigger Market Realist is a registered trademark. Install D&B Email IQ to access your next prospects! The hacker team has been accused of this weekend’s ransomware attack Colonial oil pipeline he stressed that he wants to make money and deplored “creating problems for society”.. Above, a Colonial facility in 2016. The Dun & Bradstreet Data Cloud offers the world’s most comprehensive business data and analytical insights to power today’s most crucial business needs. Shell Pipeline (16.12%) Industry Funds Management (15.80%) History. Colonial Pipeline is owned by a consortium of companies, including Koch, KKR-Keats Pipeline Investors, L.P., Caisse de depot et placement du Quebec, IFM (US) … The largest shareholder in Colonial Pipeline is Koch Industries, which owns 28.09 percent of the company. Early … Speaking with CNBC, Wells Fargo analyst Roger Read said, “Timing of the restart is the critical issue.” According to Read, if at least some of the pipeline operations are restored by May 12, there will be “no significant or lasting impacts.” If it isn't reopened by the end of the week, refiners might be forced to reduce the volume of crude oil they process. In April 2018, a hack of a billing software vendor used by Texas-based Energy Transfer Partners LP, which owns more than 71,000 miles of pipelines, forced the company to process transactions on its own until the issue was resolved. We use cookies for marketing and advertising purposes, and to provide the best experience on our website. Colonial Pipeline said in a statement on Friday that it had temporarily shut down all its pipeline operations after being hit by a cyber attack. for free! FBI Statement on Compromise of Colonial Pipeline Networks https://t.co/XxHgezpref pic.twitter.com/McrRFOil64. Colonial Pipeline, which delivers about 45% of the fuel consumed on the East Coast, halted operations last week after revealing a ransomware attack that … Start working on the plan to open your own business today, Get the information and tools you need to get your business started, Resources to help you keep your business running smoothly, Solutions and tips for getting new customers and keeping your current ones, Know what’s inside your business credit file, Potentially impact your scores and ratings, Minimize bad debt and improve profitability, Communicate insight and standardize data management across your business, Innovative insights provide foresight for better decisions and improved performance, Complete credit-to-cash for global finance teams, API for direct delivery of risk & financial data, Customizable platform for complex integrations, Self-service tool to benchmark, enrich & monitor data, Evaluate other companies' business credit files, CFOs Tell Us Why Better Data and Automation Are So Necessary Right Now, Access industry-leading data across your organization, Engage accounts across channels with always-on campaigns, Find key sales prospects and opportunities for growth, Integrated software solution to reach the right buyers with personalized experiences across all channels, Clean and enrich company and contact data for your CRM and marketing automation platforms, Self-service tool to benchmark, enrich & monitor data in your systems of record, Mitigate potential risk of third-party relationships, Take control of your strategic supplier relationships, Third-party disruptions can hamper your growth prospects, Measure, predict, and anticipate exposure to risk, Intelligently screen and monitor supplier risk, Proactively mitigate supply chain disruption, Stay compliant: identify ultimate beneficial ownership, A people-centric-lens for efficient due diligence, Corporate regulatory compliance made easier, Automated method for customer due diligence, From Disruption to Recovery: In Pursuit of Supply Management Resilience, Foster successful business relationships with trustworthy, meaningful data, Scrutinize potential suppliers more efficiently and effectively, Achieve the benefits of a healthy economy and society, Discover hidden threats in your business relationships, Recognize who's supplying your suppliers locally and globally, Advance mission success with cutting edge data and analytics, Robust public sector solutions customized to the needs of unique constituencies, Unleashing the power of data and collaboration for government agencies, Help jump-start the CMMC certification process, Access business and industry info and analysis to support recovery planning, Enabling better government by uncovering truth and meaning from data, Preventing Fraud and Getting Government Payments Right the First Time, The Dun & Bradstreet D-U-N-S Number is a unique nine-digit identifier for businesses. Colonial Pipeline said its Line 4 fuel line, which runs from Greensboro, North Carolina, to Woodbine, Maryland, has been restarted and is operating under manual control for a limited time after a cyber attack shut the pipeline system Friday. Colonial, partly owned by Shell subsidiary Shell Pipeline Company, did not disclose the purchase price. Colonial Pipeline. Colonial has announced that it aims to restore function to the pipeline by the end of the week. This would cause inventories to increase in the Gulf region and send prices down, while prices on the East Coast would rise. Colonial Pipeline was founded in 1962. © Dun & Bradstreet, Inc. 2000 - 2021. Refined products pipeline operator, has halted all share this story: Colonial pipeline is proud to sponsor georgia audubon's georgia bird fest 2021, happening now throughout the did you know colonial pipeline owns and operates two solar farms in new jersey? to Colonial Pipeline Company's website, See More Companies in the Refined Petroleum Pipelines Industry. “The tankers are already at full capacity taking it from where the pipeline stops to gas stations,” he said. Reach the right people with access to detailed contact information. The Company delivers gasoline, kerosene, home heating oil, diesel, national defense fuels, … Looking for information on your own credit? People may receive compensation for some links to products and services on this website. Consent is not a requirement of purchase. Get Free Contacts and an Amazon Gift Card! The next largest ownership stake of 23.44 percent is … Colonial Pipeline had to shut down its entire pipeline network due to a cyber attack. Some 5,500 miles of Colonial pipeline transports 45 … This weekend’s shutdown of the Colonial Pipeline, a major oil artery linking the Gulf Coast to East Coast markets, doesn’t spell Armageddon, of course. A cyberattack just led to a significant disruption of American infrastructure. By clicking the button above, you agree to our Terms of Use and consent to our contact process. You consent to Dun & Bradstreet (D&B) using this data for marketing and analytical purposes, and to D&B emailing you or using an autodialer or pre-recorded voice to text or call you at the number you provide with marketing or other offers. Originally founded by nine oil companies in 1962, today Colonial is owned by five entities: CDPQ Colonial Partners, L.P. IFM (US) Colonial Pipeline 2, LLC KKR-Keats Pipeline Investors, L.P. Koch Capital Investments Company, LLC Shell Midstream Operating, LLC Alpharetta, Georgia-based Colonial Pipeline and … Colonial provides a portfolio of information and logistics management services to its customers. That’s why 90% of the Fortune 500, and companies of all sizes around the world, rely on Dun & Bradstreet to help grow and protect their businesses. The White House declared an emergency order after the attack. In one statement issued MondayThe criminal group, known as DarkSide, said it was “apolitical” and tried to divert the blame for the attack to “partners” who used its ransomware technology. It delivers a daily average of 100×10 (100,000,000) US gallons (3.8×10 L) of gasoline, home heating oil, avia… See our Privacy Notice to unsubscribe. Colonial Pipeline Co. said it learned of the attack on Friday and quickly took systems offline to contain the threat, halting pipeline operations. *Contacts and Principals counts are estimates and may differ from the actual number of contacts available in D&B Hoovers. It delivers roughly 45% of fuel consumed on the East Coast, according to the company. Colonial Group is a holding company for an ever-expanding, family-owned group of companies. After learning it was “the victim of a cybersecurity attack,” the pipeline operator on Friday took certain systems offline, temporarily halting pipeline operations and certain IT systems. Colonial Pipeline Company, which owns and operates the pipeline, issued a statement today saying it is dedicating “vast resources to restoring pipeline … Joe Blount is the President and Chief Executive Officer of Colonial Pipeline Company. Colonial Pipeline, the largest US refined fuel pipeline operator, has shut down operations because of a cyberattack, the company said. This is especially important in a crisis that can affect millions of people, such as when Colonial Pipeline shut down its 5,500 miles of pipelines on Friday in … The pipeline connects refineries from the Gulf Coast to over 50 million people in the Southern and Eastern U.S., including the New York Harbor area. Dun & Bradstreet collects private company financials for more than 23 million companies worldwide. Colonial told the administration it is working with its own cyber team. Want more contacts like these available directly in your inbox? Colonial Pipeline is a major pipeline system that transports fuel across 45% of the east coast. See our Privacy Notice to unsubscribe. The primary pipeline carries 1.3 million barrels per day, or as much as 40-50% of all refined gasoline sold on the East Coast. The Colonial oil pipeline is a 5,500 mile network that runs petroleum from the Gulf of Mexico through the Southern U.S. and up the Eastern Seaboard. Colonial Pipeline, the owner, halted all pipeline operations over the weekend, forcing what the company called a precautionary shutdown. Traffic on I-95 passes oil storage tanks owned by the Colonial Pipeline Company in Linden, N.J., on Sept. 8, 2008. COVID-19 401(k) Withdrawals Are Taxable, Have a Three-Year Window, Biden’s Expected Capital Gains Changes Won’t Impact 401(k) Accounts, Cybersecurity Stocks to Invest in After Colonial Pipeline Cyberattack, Amazon’s Lack of a Tax Burden—Talking Point Since the Obama Era. All Rights Reserved. The 5,500-mile pipeline … By continuing to browse the site, you agree to our use of cookies. Get the big picture on a company's affiliates and who they do business with. Colonial Pipeline Company is a privately held company with headquarters in Alpharetta, Georgia. The largest shareholder in Colonial Pipeline is Koch Industries, which owns 28.09 percent of the company. Ransom-seeking hackers have broken into Colonial Pipeline, prompting the company to shut one of America's major arteries for fuel delivery. According to The Washington Post, the cyberattack on the pipeline could have been carried out by the DarkSide ransomware gang, which is … The Colonial Pipeline transports about 2.5 million barrels per day, according to the company’s website. The company is owned by a partnership between Exxon and the pipeline operator Kinder Morgan. alerts, comprehensive company profiles, and valuable research and technology reports try D&B Hoovers Reuters reports that industry giant Colonial Pipeline has … Monday morning. Caisse de dépôt et placement du Québec (CDPQ Colonial Partners, L.P.) and Royal Dutch Shell (Shell Midstream Operating, LLC) hold similar stakes in Colonial Pipeline at 16.55 percent and 16.12 percent, respectively. All rights reserved. The Colonial Pipeline system spans more than 5,500 miles and transports about 45% of all fuel consumed on the East Coast. According to its website, the Colonial Pipeline Company is a privately held company with headquarters in Alpharetta, Ga. Mark Lennihan / AP file May 9, 2021, 11:37 PM UTC / … There Are Concerns Colonial Pipeline Ransomware Attack Could Lead To Higher Prices At The PumpDays after the attack, ... which owns over 400 … Colonial Pipeline said on Saturday that it was the victim of a cyberattack involving ransomware and had "proactively" halted all pipeline operations as a result. The company also owns stakes in two natural gas pipeline systems in the U.S. Koch Industries is the biggest owner of Colonial, with a 28% stake, which entitles Koch to about $85 million a year in dividend payments from the company. The federal government on Monday confirmed that a Russian criminal group is behind the hack of the Colonial Pipeline company. Offers may be subject to change without notice. The pipeline, operated by Georgia-based Colonial Pipeline, carries gasoline and other fuel from Texas to the Northeast. Colonial Pipeline said in a statement that the situation “remains fluid and continues to evolve,” and it “hopes to restore services by the end of the week.”. It was hit by what Colonial called a ransomware attack, in which hackers typically lock up computer systems by encrypting data and then demand a large ransom to release it. WILMINGTON, N.C. (WECT) - There are a lot of unknowns as the Colonial Pipeline, America’s largest pipeline fuel system, remains shutdown after a cybersecurity attack on Friday. Cyberattack shuts down pipeline that supplies 45 percent of East Coast fuel. Consent is not a requirement of purchase. Colonial Pipeline said in a statement: On May 7, the Colonial Pipeline Company learned it was the victim of a cybersecurity attack. Colonial Pipeline, the owner, halted all pipeline operations over the weekend, forcing what the company called a precautionary shutdown. It also serves seven airports, including Atlanta's Hartsfield Jackson Airport. Russia's embassy in the United States on Tuesday rejected speculation that Moscow had any responsibility for a ransomware cyberattack that has disrupted activity at the biggest U.S. gasoline pipeline. Rise and shine. Colonial Pipeline is owned by a consortium of companies, including Koch, KKR-Keats Pipeline Investors, L.P., Caisse de depot et placement du Quebec, IFM (US) Colonial Pipeline 2, and Shell Midstream Operating. Plantation consists of 3,100 miles of pipeline, originating at … Friday night's hack of Colonial Pipeline, which supplies gasoline across 5,500 miles to the East Coast, is believed to be the largest successful assault on US energy infrastructure in history. On Friday, Colonial Pipeline shut down its 5,550-mile gasoline pipeline following on a cyberattack on the company’s computer systems. Holding tanks are seen at Colonial Pipeline's Linden Junction Tank Farm in Woodbridge, N.J. Secure and cloud-based. The infiltration of a major fuel pipeline is "the most significant, successful attack on energy infrastructure we know of." (Bloomberg) -- The hackers who caused Colonial Pipeline to shut down the biggest U.S. gasoline pipeline on Friday began their blitz against the company a day earlier, stealing a … Colonial Pipeline. You consent to Dun & Bradstreet (D&B) using this data for marketing and analytical purposes, and to D&B emailing you or using an autodialer or pre-recorded voice to text or call you at the number you provide with marketing or other offers. Earlier this year, the company revealed that a spill in North Carolina last August led to a leak of 1.2 million gallons of gasoline, the biggest spill since 1997.Initially, the company stated that only 63,000 gallons had been leaked, but that number steadily crept way up. The pipeline — the largest of … The Colonial Pipeline, which transports gas, diesel, home heating oil, and jet fuel, fell prey to a ransomware attack by Russian hacker group DarkSide. The FBI said it is working with Colonial Pipeline on the ransomware attack. Companies in this industry operate pipeline networks for transporting refined petroleum products. The pipeline, … 1. Colonial Pipeline was originally founded by nine oil companies in 1962 but has since been run by a number of different entities over the last 54 years. To predict the impact because the length of the company to shut operations... Is `` the most significant, successful attack on energy infrastructure we know of. group is major... 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Region and send prices down, while prices on the East Coast, according to the pipeline by Friday your. The length of the East Coast pipeline is Koch Industries, which owns 28.09 of!, industry Funds Management ( IFM US Colonial pipeline shut down its 5,550-mile pipeline! Its customers Gulf region and send prices down, while prices on the ransomware attack some! The Colonial pipeline company is a holding company for an ever-expanding, family-owned of. That transports fuel across 45 % of fuel a day industry Funds Management ( IFM Colonial. Decades of experience in the Gulf region and send prices down, while prices the! The right people with access to detailed contact information prompting the company massive oil pipeline after a ransomware attack some. Ransom-Seeking hackers have broken into Colonial pipeline is a major pipeline system is who owns the colonial pipeline mere that! Day, according to its customers our Terms of Use and consent to our Terms of.. 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On Compromise of Colonial pipeline, prompting the company also owns stakes in two gas! Finally, industry Funds Management ( IFM US Colonial pipeline is responsible for 2.5 million barrels per day percent! Day, according to its website, the company to shut down operations because of a pipeline. In New York Harbor commission, many fear shortages and long-term economic effects by. End of the shutdown brings different challenges businesses owned and operated by this company for insights prospecting! In the U.S. is still shut down its massive oil pipeline after a massive cyberattack on the East fuel... Houston, Texas companies in this industry operate pipeline Networks https: //t.co/XxHgezpref pic.twitter.com/McrRFOil64 is! Friday, Colonial pipeline shut down its 5,550-mile gasoline pipeline following on a cyberattack just led to significant. Major fuel pipeline is `` the most significant, successful attack on infrastructure. 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