BP's midstream partners' offshore pipeline transportation volume increased by 12% in the first quarter

According to a report on the OE website on May 7, BP Midstream Partners LP executives said on Thursday that the company’s offshore pipeline volume increased by 12% in the first quarter, but onshore Demand for oil and refined oil pipelines lags behind.

The company’s chief financial officer, Jack Collins, said on the company’s performance conference call that overall, in the three months ending on March 31, the volume of crude oil and refined oil shipments in the BP midstream pipeline was higher than that of 2020.

Collins said that the amount of oil transported by offshore pipelines in the first quarter - including the 400,000 barrels of Mars (Mars) crude oil pipeline near Louisiana - increased significantly, mainly because of the weather in the first quarter compared with the previous quarter.

The throughput of some onshore pipelines, including the River Rouge product pipeline and the BP2 crude oil pipeline, has declined.

Collins said that the transportation and business restrictions caused by the new crown pneumonia pandemic have led to a decline in fuel demand, and BP2 has been hindered by the demand for the Enbridge Mainline pipeline.

He said that in the three months ending June 30, BP Midstream expects BP2 and River Rouge throughput to increase, and Diamondback demand will decrease.

BP Midstream’s first-quarter revenue was US$29.

Hao Fen translated from OE

The original text is as follows:

BP Midstream Partners' Offshore Pipeline Volumes Up

BP Midstream Partners LP (BPMP.

Overall, the amount of crude oil and refined products shipped on BP Midstream pipelines was up 8% to 1.

Oil volumes on offshore pipelines-including on the 400,000 barrel-per-day Mars crude oil line off of Louisiana-grew in the first quarter largely due to better weather than the previous quarter, when multiple storms forced US Gulf Coast production to shut, Collins said.

Volumes fell on some on-land pipelines, including the River Rouge refined products pipeline and the BP2 crude oil pipeline.

River Rouge suffered from lower fuel demand caused by COVID-19 pandemic transportation and business restrictions, while BP2 was hampered by demand for the Enbridge Mainline pipeline, Collins said.

The Diamondback pipeline, a transporter of diluent to Canada, saw higher seasonal demand in the first quarter after dipping the previous three months.

In the three months ending on June 30, BP Midstream expects BP2 and River Rouge volumes to rise and Diamondback demand to decrease, Collins said.

BP Midstream's quarterly revenue was $29.