Tulsa-Operating margins were back in the plus column at Magellan Midstream Partners LP’s anhydrous ammonia pipeline business during the second quarter ending June 30, 2008, as they moved up to $3.2 million from the year-ago loss of $1.5 million. Revenues moved up to $5.99 million from the year-ago $4.5 million. The company attributed the improvement to higher volumes – 227,000 st versus the year-ago 186,000 st, as well as higher tariffs and lower operating costs due to lower maintenance and environmental expenses than in 2007. Six-month ammonia margins were $6.3 million on revenues of $11.4 million, versus the year-ago loss of $2.1 million and $9.4 million, respectively. Six-month volumes were 447,000 st, up from 400,000 st. Company-wide second-quarter net income was $94.4 million ($.80 per lp unit) on revenues of $272.9 million, versus the year-ago $61.4 million ($.66 per unit) and $328.1 million, respectively. Six-month net income was $187.7 million ($1.70 per unit) on sales of $619.4 million, versus the year-ago $111.1 million ($1.21 per unit) and $620.1 million.
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