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: UK pipeline perspectives
In this episode, we look at the work of the Pipeline Industries Guild, in facilitating connections and learning for pipeliners of all kinds in the UK.
IMCA publishes new guidance on deck decompression chamber (DDC) operations for the therapeutic treatment of divers
The International Marine Contractors Association (IMCA) has published new guidance on the use of deck decompression chambers (DDCs) to treat divers with decompression illnesses.
