With Petroleum Products as Foundation, Enterprise Products Keeps Eyes on New Technologies
Industry Segment: Pipelines | Word Count: 557 Words
SUGAR LAND May 4, 2021 Researched by Industrial Info Resources (Sugar Land, Texas) Midstream company Enterprise Products Partners (NYSE:EPD) (Houston, Texas) may look slightly different in coming years. Co-Chief Executive Officer Jim Teague said that the company was exploring evolutionary technologies, or lower-carbon opportunities.
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EnergyEnterprise Products oil pipeline Q1 volumes drop amid winter storms
Devika Kumar
3 minute read
The headquarters of energy pipeline operator Enterprise Products Partners seen in Houston, Texas, U.S. September 27, 2020. REUTERS/Gary McWilliams
Enterprise Products Partners LP (EPD.N) on Monday said volumes across its pipelines dropped by 13% in the first quarter as producers and refiners were hit by winter storms, causing damage to facilities and disrupting shipments.
Overall pipeline volumes dropped 13% to 6 million barrels per day (bpd) while total crude oil pipeline transportation volumes fell to 1.9 million bpd in the first quarter from 2.4 million bpd a year earlier.
Still, the company had a net benefit of about $250 million in the first quarter from the storms, helped by sales of natural gas to electricity generators, natural gas utilities and industrial customers.
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NEW YORK, Jan 26 (Reuters) - Enterprise Products Partners LP exported a record of about 27 million barrels of natural gas liquids in December, co-Chief Executive Officer Jim Teague said during an industry conference on Tuesday.
Crude oil exports are likely to grow and overall company results for 2020 are expected to be close to records hit in 2019, Teague said.
“We’ve had a pretty darn good year,” he said, adding that the company’s earnings in 2020 were boosted by favorable storage economics due to a market structure known as contango, where prices for oil in the future are above prompt prices.