We are a fee-based, growth-oriented master limited partnership recently formed by BP Pipelines (which is an indirect wholly owned subsidiary of BP), to own, operate, develop and acquire pipelines and other midstream assets. Our initial assets consist of interests in entities that own crude oil, natural gas, refined products and diluent pipelines serving as key infrastructure for BP and other customers to transport onshore crude oil production to BP’s Whiting Refinery and offshore crude oil and natural gas production to key refining markets and trading and distribution hubs. Certain of our assets deliver refined products and diluent from the Whiting Refinery and other U.S. supply hubs to major demand centers
We have a strategic relationship with BP, one of the largest producers of crude oil and natural gas as well as one of the leading petroleum products refiners in the United States, who will maintain a significant interest in us. BP and its subsidiaries own a substantial amount of retained midstream assets and may provide BPMP with significant growth opportunities in the future.