Tulsa-Magellan Midstream Partners LP reported a huge increase in ammonia operating margins during the first quarter ending March 31, 2008, to $3.17 million on revenues of $5.4 million, up from the year-ago loss of $624,000 on revenues of $4.9 million. Revenues were up due to higher average rates and additional volumes, which moved up to 220,000 st from the year-ago 214,000 st. Operating expenses were down to $2.25 million from the year-ago $5.5 million due to lower maintenance and environmental expenses. Magellan-wide, net income moved up to $93.3 million ($.89 per diluted lp unit) on revenues of $346.5 million, versus the year-ago $49.7 million ($.55 per lp unit) and $292.0 million.
Transparency Across the Fertilizer Value-Chain