Inter Pipeline announces strong 1Q16 results
Published by Angharad Lock,
Digital Assistant Editor
World Pipelines,
Inter Pipeline has released its 1Q16 financial results, stating generated funds from operations totaling US$186 million (+5% y/y).
Other highlights include:
- FFO for bulk liquid storage recorded US$31 million (+53% y/y).
- Net 1Q16 income was US$105 million (US$0.31/share).
- Declared cash dividends of US%313 million (US$0.39/share).
- Quarterly payout ratio of 75%.
- Total pipeline throughput volumes remained strong, averaging 1 312 700 bpd.
- Completed construction of US$25 million diluent connection to the JACOS-Nexen Hangingstone project.
- Secured a long-term diluent supply connection agreement with Pembina Pipeline on the Polaris pipeline system.
- Entered into a long-term agreement to provide bitumen blend transportation service to the North West Redwater Sturgeon Refinery.
- Bulk liquid storage capacity utilisation averaged 98% for the quarter, an increase from 90% compared to 1Q15.
Read the article online at: https://www.worldpipelines.com/equipment-and-safety/10052016/inter-pipeline-announces-strong-1q16-results-122/
You might also like
World Pipelines Podcast: Going global with IPLOCA
In this episode, Elizabeth Corner speaks to Georges Hage, Executive Secretary at IPLOCA, about IPLOCA's insights on the culture and characteristics of the pipeline contractor community, and how it works to support sustainable energy infrastructure.
Fox Innovation & Technologies (FOX) acquires Sirio Solutions Engineering (SSE) S.p.A.
SSE will add complementary services and international exposure to the FOX footprint.
