Plastics Reclamation Plant Liquidation
Sortation, Grinding, Washing and Starlinger Equipment For Sale
Equipment sold individually
Bids accepted first come, first served basis.
Subject to prior sale.
All offers due by Nov. 7
Click here for pictures and detailed equipment list
Contact David for additional information at 1-630-235-8171
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Enterprise to commission new PDH unit in 2Q 2017; 3Q income down 2.3%
HOUSTON, October 27, 2016 (PCW) – Enterprise Product Partners said on Thursday it will begin commissioning its 1.65 billion lbs/yr propane dehydrogenation unit at Mont Belvieu in the second quarter of next year.
In September, EPD filed a lawsuit in Texas court against contractor Amec Foster Wheeler, alleging the contractor was responsible for cost overruns and delays on its propane dehydrogenation project. In March, EPD stated it was delaying the startup of the PDH unit from the end of this year to 2Q 2017. The company announced the plant in mid-2012 and, at the time, had an in-service date of 3Q 2015.
On Thursday as well, EPD reported third-quarter net income of $643 million, down about 2.3% from the $658 million in the year-ago period.
Eagle Ford Volumes
The weaker earnings were due to EPD’s commodity-sensitive business, lower volumes on the Eagle Ford crude oil pipelines, weaker ethane recoveries and downtime and repairs at its Pascagoula natural gas processing plant and pre-commissioning expenses for new assets. EPD execs said the Pascagoula plant is expected to return to service in December.
In the company’s petrochemical and refined products services group, gross operating margin was $172 million in the quarter, compared to $192 million in 3Q 2015. Total segment pipeline transportation volumes were 784,000 b/d in 3Q compared to 816,000 b/d in 3Q 2015.
EPD’s propylene business reported a 23% increase in gross operating margin to $57 millionfrom $47 million in 3Q 2015. This increase was primarily due to higher sales margins, including those from record propylene exports, and lower maintenance expenses. The increase was partially offset by pre-commissioning expenses associated with the firm’s propane dehydrogenation plant in Mont Belvieu of $7 million for the third quarter of 2016. Propylene fractionation volumes were 76,000 b/d for the quarter, compared to 72,000 b/d a year ago.
Lower Sales Margins
Gross operating margin for EPD’s octane enhancement and high-purity isobutylene business was $17 million versus $58 million for 3Q 2015. The decrease was primarily due to lower sales margins, including hedging activities. Total production volumes from these plants were 27,000 b/d in the quarter, compared to 20,000 b/d in 3Q 2015.
The NGL Pipelines & Services group saw gross operating margin of $704 million for the third quarter, up from $696 million a year ago. EPD’s ethane export terminal at Morgan’s Point loaded an average of 20,000 b/d in 3Q (the terminal started up in September). Contract commitments for the facility will increase to 50,000 b/d by year’s end and will increase to approximately 180,000 b/d by the end of 2017. EPD executives said the 200,000 b/d terminal still has about 25,000 b/d of capacity still available. -- Samantha Hartke