Enterprise Products Partners L.P.

SEC Filings

10-K
ENTERPRISE PRODUCTS PARTNERS L P filed this Form 10-K on 02/28/2018
Entire Document
 


Historically, our octane enhancement plant experienced downtime annually for major maintenance activities.  During 2016, we completed modifications to our octane enhancement plant to alleviate the need for such yearly outages.  We now expect downtime for major maintenance activities at our octane enhancement plant once every three years.  As a result of these modifications, plant production volumes increased 4 MBPD year-to-year.
Comparison of 2016 with 2015.  Gross operating margin from our octane enhancement facility and HPIB plant for 2016 decreased $102.1 million when compared to 2015.  This year-to-year decrease in gross operating margin is primarily due to lower sales margins, including the results of our related hedging activities.
Refined products pipelines and related activities
Comparison of 2017 with 2016.  Gross operating margin from refined products pipelines and related marketing activities for 2017 decreased a net $25.5 million when compared to 2016.
Gross operating margin from refined products marketing decreased a net $18.3 million year-to-year primarily due to lower average refined products sales margins, which accounted for a $30.0 million decrease, partially offset by a $12.0 million year-to-year increase in non-cash mark-to-market income.  Non-cash mark-to-market earnings for this business was a gain of $2.4 million in 2017 versus a loss of $9.6 million in 2016.
Gross operating margin from our Beaumont and Houston Ship Channel refined products marine terminals decreased a combined $14.2 million year-to-year primarily due to higher operating costs.
Gross operating margin from our TE Products Pipeline increased a net $7.3 million year-to-year primarily due to higher average transportation fees, which accounted for a $10.8 million increase, partially offset by lower transportation volumes, which accounted for a $5.8 million decrease.  Transportation volumes for the TE Products Pipeline decreased 24 MBPD primarily due to lower refined products and petrochemical product movements during 2017.
Comparison of 2016 with 2015.  Gross operating margin from refined products pipelines and related marketing activities for 2016 increased $46.8 million when compared to 2015.  Gross operating margin from our Beaumont refined products terminals increased $24.9 million year-to-year primarily due to expansions and higher demand for storage and marine vessel loading services.
Gross operating margin for the TE Products Pipeline and related terminals increased $20.1 million year-to-year primarily due to higher volumes.  Interstate refined products pipeline transportation volumes on our TE Products Pipeline increased 10 MBPD year-to-year. Intrastate refined products and petrochemical pipeline transportation volumes on our TE Products Pipeline increased a combined 40 MBPD year-to-year.
Marine transportation and other
Comparison of 2017 with 2016.  Gross operating margin from marine transportation and other activities for 2017 decreased $21.5 million when compared to 2016. Gross operating margin attributable to our marine transportation business decreased $18.1 million year-to-year primarily due to lower average fees.
Comparison of 2016 with 2015.  Gross operating margin from marine transportation and other activities for 2016 decreased $22.0 million when compared to 2015 primarily due to lower demand for marine transportation services attributable to the lower commodity pricing environment.
Offshore Pipelines & Services
We sold our Offshore Business in July 2015.  The following table presents segment gross operating margin and selected volumetric data through the closing date of the sale, July 24, 2015 (dollars in millions, volumes as noted).

Segment gross operating margin
 
$
97.5
 
Selected volumetric data:
       
Natural gas transportation volumes (BBtus/d)
   
587
 
Crude oil transportation volumes (MBPD)
   
357
 
Platform natural gas processing (MMcf/d)
   
101
 
Platform crude oil processing (MBPD)
   
13
 
 
 
89