Oil pipeline operators' 2011 profits soar to record

摘要

Oil pipeline operators' net income soared to an all-time high of $6.1 billion, a 33.3% increase from 2010 achieved on the back of a nearly 12% increase in operating revenues. The resulting earnings as a percent of revenue of 48.6% were also a record. The strong bottom line coincided with a more than 47% drop in changes to carrier property, as companies pulled back from major additions. Natural gas pipeline operators meanwhile saw their profits slip more than 6% from 2010's high to less than $4.9 billion. The dip in net income came despite a 3.8% increase in revenues, which reached more than $20.5 billion, their highest level since 2007 (Fig. 1).