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BP Midstream planning to ship other products on its Diamondback pipeline

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BP Midstream planning to ship other products on its Diamondback pipeline

BP Midstream Partners LP is planning to ship other products on its 135,000 barrel per day Diamondback pipeline, CEO Robert Zinsmeister said.

"We are looking at that shipping opportunities for products other than diluent," Zinsmeister said during the company's second-quarter earnings call.

Zinsmeister said the other products will not start delivery this year as there is still a need to develop the customers to take the supply.

The pipeline transports diluent from BP p.l.c.'s Black Oak Junction in Gary, Ind., to a third-party-owned pipeline in Manhattan, Ill. The diluent is ultimately transported to Alberta to be used as a blending agent in the transport of Canadian heavy crude oil.

The Diamondback pipeline had a throughput of 55,000 bbl/d for the quarter, down from 73,000 bbl/d a year ago.

BP Midstream reported a net profit attributable to the partnership of $37.3 million, or 35 cents per share, during the quarter, up from $30.5 million, or 29 cents per share, in the prior-year period.