Colonial Enterprises, Inc. announced that it is considering the formation of a marketing affiliate to further commercialize Colonial's current assets.
Senior Vice President and CCO at Colonial Enterprises, Inc., Dan Gordon, said, "Given the size and scale of our system, we want to examine opportunities for additional business based on optimization and market conditions."
(Source – PR Newswire)
The firm anticipates continuing its affiliate-related business planning operations over the next several months, including filing to establish a distinct corporate entity, recruiting, information technology buildout, and expanded regulatory compliance training.
Colonial is committed to instituting stringent safeguards and protocols designed to ensure adherence with the Interstate Commerce Act and other governance related to affiliates of federally regulated pipelines. These safeguards and protocols are intended to protect the company's customers and employees. Colonial Pipeline Corporation is a subsidiary of Colonial Enterprises, Inc., which is the parent company.
About Colonial Pipeline
Colonial Pipeline Company, formed in 1962, connects refineries, particularly on the Gulf Coast, with consumers and markets across the southern and eastern United States through a 5,500-mile pipeline system. In addition, the corporation provides refined petroleum products such as diesel, gasoline, jet fuel, home heating oil, and military fuel. It is a value-based energy firm that is well positioned to deliver its services in a cost-effective, dependable, and environmentally conscious way with efficient solutions to satisfy the future energy requirements of its consumers. It is contributing to the supply of energy that improves lives and sustains economic growth. Colonial is committed to quality in all of its endeavors. Across its activities, it is dedicated to safety and environmental sustainability.