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Inter Pipeline announces strong 1Q16 results

Published by
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.

Edited from press release by

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