LONDON (ICIS)--Enterprise Product Partners LP’s fourth-quarter net income rose 19% year on year to $797m, with petrochemicals operating margin increasing during the period, the US-headquartered petrochemicals and midstream firm said on Wednesday.
Gross operating margin for the petrochemicals division rose 16% year on year during the quarter to $172m, while total petrochemicals and refined products transportation volumes fell.
Gross operating margin for butane isomerisation operations rose $21m year on year during the quarter as a result of two turnarounds during the fourth quarter of 2016, while butane isomerisation gross operating margin rose $16m over the same period on lower costs and higher volumes.
Fourth-quarter propylene fractionation gross operating margin fell $3m year on year on the back of higher propane dehydrogenation (PDH) commissioning costs.
The company’s new PDH unit in Mount Belvieu, Texas, is expected to reach full operating rates early this year.