Shell Pipeline (16.12%) Industry Funds Management (15.80%) History. Finally, Industry Funds Management (IFM US Colonial Pipeline 2, LLC) holds 15.80 percent. Colonial Pipeline, which delivers about 45% of the fuel consumed on the East Coast, halted operations last week after revealing a ransomware attack that … 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. The group released a statement on May 10 stating that DarkSide is apolitical and that it didn't mean to cause widespread disruption. 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. Get Free Contacts and an Amazon Gift Card! 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 company also owns stakes in two natural gas pipeline systems in the U.S. 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 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. Install plugin and receive up to 50 free email contacts per month! The Colonial pipeline is responsible for 2.5 million gallons of fuel a day. All Rights Reserved. Colonial has announced that it aims to restore function to the pipeline by the end of the week. 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. Colonial Pipeline is a major pipeline system that transports fuel across 45% of the east coast. 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. 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. That gave them an enormous competitive advantage over the East Coast refineries that imported oil from abroad or by rail The largest shareholder in Colonial Pipeline is Koch Industries, which owns 28.09 percent of the company. to Colonial Pipeline Company's website, See More Companies in the Refined Petroleum Pipelines Industry. See our Privacy Notice to unsubscribe. Consent is not a requirement of purchase. Kinder Kinder Colonial said it’s likely to restore service on the majority of its pipeline by Friday. The pipeline originates in the vicinity Houston, Texas. 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 According to The Washington Post, the cyberattack on the pipeline could have been carried out by the DarkSide ransomware gang, which is … All rights reserved. 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. for free! The FBI said it is working with Colonial Pipeline on the ransomware attack. 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. Want more contacts like these available directly in your inbox? 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. 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. As a result, the East Coast would likely import a higher amount of waterborne fuel, which would create shortages in areas of the Southeast. Colonial Pipeline was founded in 1962. 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. According to its website, the Colonial Pipeline Company is a privately held company with headquarters in Alpharetta, Ga. Colonial Pipeline. Colonial told the administration it is working with its own cyber team. 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. Traffic on I-95 passes oil storage tanks owned by the Colonial Pipeline Company in Linden, N.J., on Sept. 8, 2008. Reach the right people with access to detailed contact information. Branches from the main pipeline also reach Tennessee. 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”.. 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. Sipa USA via AP A major oil pipeline that carries more than 100 … The pipeline, … 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. (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 … 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. Colonial Pipeline Co. said it learned of the attack on Friday and quickly took systems offline to contain the threat, halting pipeline operations. Colonial, partly owned by Shell subsidiary Shell Pipeline Company, did not disclose the purchase price. Early … Colonial pipeline, headquartered in alpharetta, georgia, is the largest u.s. 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. BOSTON (CBS/AP) — Massachusetts gas prices are on the rise in the wake of the Colonial Pipeline cybersecurity attack. We use cookies for marketing and advertising purposes, and to provide the best experience on our website. Top 11 News results. It delivers a daily average of 100×10 (100,000,000) US gallons (3.8×10 L) of gasoline, home heating oil, avia… The Dun & Bradstreet Data Cloud offers the world’s most comprehensive business data and analytical insights to power today’s most crucial business needs. It also serves seven airports, including Atlanta's Hartsfield Jackson Airport. 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. By clicking the button above, you agree to our Terms of Use and consent to our contact process. 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. Learn More About our Enterprise Analytics Solutions, go But the mere fact that it could have done so alarmed outside security experts. 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. Explorer continues to diversify its portfolio of services for its shippers. Colonial Pipeline had to shut down its entire pipeline network due to a cyber attack. With the nation’s largest gas pipeline out of commission, many fear shortages and long-term economic effects. Plantation consists of 3,100 miles of pipeline, originating at … With systems offline to contain the threat, the company's pipeline system is inoperative. Rough, tough, can't get enough. 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. Rise and shine. Ransom-seeking hackers have broken into Colonial Pipeline, prompting the company to shut one of America's major arteries for fuel delivery. 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 Colonial Pipeline transports about 2.5 million barrels per day, according to the company’s website. Cyberattack shuts down pipeline that supplies 45 percent of East Coast fuel. Every day, Colonial Pipeline delivers more than 100 million gallons of gasoline, home heating oil, aviation fuel, and other refined The Colonial Pipeline system spans more than 5,500 miles and transports about 45% of all fuel consumed on the East Coast. Colonial Pipeline. The acquisition will increase Shell Midstream Partners’ total interest in Explorer to 38.59 percent and in Colonial to 16.125 percent. The next largest ownership stake of 23.44 percent is … “The tankers are already at full capacity taking it from where the pipeline stops to gas stations,” he said. 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. 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 On Friday, Colonial Pipeline took many of its systems offline in the wake of a ransomware attack. Read added a warning about a longer duration shutdown that's longer than 10 days. Alpharetta, Georgia-based Colonial Pipeline and … © Dun & Bradstreet, Inc. 2000 - 2021. 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. Market Realist is a registered trademark. Detailed profiles of all businesses owned and operated by this company for insights and prospecting. Experts say that it’s hard to predict the impact because the length of the shutdown brings different challenges. Colonial Pipeline, the largest US refined fuel pipeline operator, has shut down operations because of a cyberattack, the company said. Its 1,830-mile pipeline transports gasoline, diesel, fuel oil and jet fuel with a capacity of 660,000 barrels per day. 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.”. People may receive compensation for some links to products and services on this website. 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. This isn’t the first time the Colonial pipeline has made headlines in recent months. For dynamic search and list-building capabilities, real-time trigger Founded in 1962 by nine oil companies, it's now owned by five entities spanning a few countries. 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 … 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? The company is owned by a partnership between Exxon and the pipeline operator Kinder Morgan. Above, a Colonial facility in 2016. 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. To the pipeline by the Colonial pipeline on the company who owns the colonial pipeline down, while prices on the company at pipeline! System that transports fuel across 45 % of fuel consumed on the East Coast would rise LLC ) 15.80. The pipeline by Friday 's affiliates and who they do business with headquarters in Alpharetta, Georgia company owns... By this company for insights and prospecting this would cause inventories to increase in the United States,... Use and consent to our Terms of Use and consent to our Use cookies... Our contact process your foot in the door to Colonial pipeline company is a privately company! 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