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Buckeye says in settlement discussions over jet fuel transportation dispute

With regard to two orders issued by the Federal Energy Regulatory Commission in February related to ongoing proceedings involving one of Buckeye's operating subsidiaries, Buckeye Pipe Line Company, L.P., CEO Clark Smith stated, "We are pleased with FERC's confirmation of our current tariff rates and to have further clarity regarding the ratemaking methodology to be followed in both competitive and non-competitive markets. We are in active settlement discussions with respect to the ongoing complaint regarding transportation of jet fuel to the New York City airports."