Valero Energy Partners Reports Good 2Q Results; On Target for 25% Cash Contribution Growth in 2017
Wide-moat Valero Energy Partners reported good second-quarter results, as pipeline, terminaling, and storage activities increased. Pipeline transportation grew revenue by 29% to $25 million owing to a combination of higher revenue achieved per barrel ($0.27 versus $0.25 last year) and a 250,000-barrel-per-day, or mb/d, increase in volumes transported. Terminaling top-line growth was equally strong, as a throughput increase of roughly 700 mb/d could offset the slight decline in revenue per unit, ...
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