Enterprise Products posts growth in crude pipeline volumes in 4Q23
Published by Isabel Stagg,
Editorial Assistant
World Pipelines,
US pipeline operator Enterprise Products Partners, said on Thursday 1 February, 2024, its crude oil volumes last quarter grew 15% to a record 2.6 million bpd, as more oil flowed through its lines despite lower prices.
The pipeline and fuel storage company said net income rose 10% to US$1.6 million, or 72 cents per share. Excluding items, the company earned 72 cents per share, above analysts estimate of 68 cents per share.
The company said it expects growth capital investments this year will be between US$3.25 billion and US$3.75 billion, about US$250 million higher than its previous forecast.
Enterprise also is awaiting a US license for its export facility Sea Port Oil Terminal (SPOT) in the 1Q24.
The company had seen a draft of the license and the Maritime Administration had accepted changes requested by Enterprise, Robert Sanders, an executive Vice President, said during a conference call, reported Reuters.
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World Pipelines’ February 2024 issue
The February 2024 issue of World Pipelines includes a report on pipeline activity in the UK and Europe, along with technical articles on protecting pipelines during construction, surface preparation, and measuring methane emissions from pipelines. This issue also includes our annual inline inspection Q&A, with contributions from a host of ILI experts.
Read the article online at: https://www.worldpipelines.com/business-news/02022024/enterprise-products-posts-growth-in-crude-pipeline-volumes-in-4q23/
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