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People & Business :: Energy and Feedstocks
Williams Partners net income down YOY on NGL margins, offset by olefins
9:28 AM MDT | May 8, 2013 | Clay Boswell
Williams Partners (Tulsa, OK) on Tuesday reported first-quarter net income of $321 million, down 21% year-over-year (YOY). “NGL margins declined 50% from the first-quarter of 2012 as continued low ethane prices drove system-wide ethane rejection, and propane and butane prices also remained at depressed levels,” the company said. “Higher olefin margins, particularly higher ethylene margins at Geismar, helped mitigate the impact of the lower NGL margins and higher expenses.” NGL margins fell from $242 million in the first quarter of...
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