BP Midstream Partners LP on Thursday said it posted a revenue of $31.50 million in the second quarter of 2020, compared to $28.60 million in the same three-month period in 2019. This is despite a roughly 10% decline in its pipeline volumes during the same period. Volumes in the company’s onshore pipelines, including the River Rouge refined products line and the BP2 crude oil line fell 13% year-on-year.
Meanwhile, volumes on its offshore pipelines, such as the 400,000 bpd Mars crude oil pipeline decreased 8%. Despite the challenging market environment, BP Midstream keeps its expansion plans at the Mars pipeline system, which will start in 2021. The company’s executives said activity on those pipelines has improved in the third quarter of 2020.
