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BUCKEYE PARTNERS L.P. ANNOUNCES EARNINGS

 BUCKEYE PARTNERS L.P. ANNOUNCES EARNINGS
 EMMAUS, Pa., July 17 /PRNewswire/ -- Buckeye Management Company,


general partner of Buckeye Partners, L.P. (NYSE: BPL), today reported that the Partnership's 1992 second quarter income from continuing operations was $8.0 million, or $.66 per unit.
 Income from continuing operations for the same period last year was $7.3 million, or $.60 per unit. Revenue and operating income for the second quarter of 1992 were $40.1 million and $15.0 million, respectively, compared with $37.8 million and $13.9 million, respectively, for the second quarter last year.
 Increased revenue is due to a 5 percent increase in volume transported during the quarter and the effect of rate increases implemented in July 1991. Volume transported in the second quarter of 1992 averaged 913,200 barrels per day compared with an average of 865,500 barrels per day in the second quarter last year.
 The Partnership's income from continuing operations for the six months ended June 30, 1992 was $14.1 million, or $1.16 per unit, compared with 1991 income from continuing operations for the same period of $13.0 million, or $1.07 per unit.
 Buckeye Partners, L.P., through its subsidiary entities, is one of the nation's largest independent pipeline common carriers of refined petroleum products with nearly 4,000 miles of pipeline operating in 11 states.
 BUCKEYE PARTNERS, L.P.
 CONDENSED STATEMENT OF INCOME
 (In Millions, Except Per Unit Amounts)
 Periods ended Three Months Six Months
 June 30 1992 1991 1992 1991
 Revenue $40.1 $37.8 $77.3 $73.4
 Operating expenses 22.4 21.4 43.7 41.9
 Depreciation and
 amortization 2.7 2.5 5.4 5.0
 Total operating expenses 25.1 23.9 49.1 46.9
 Operating income 15.0 13.9 28.2 26.5
 Interest expense & other (7.0) (6.6) (14.1) (13.5)
 Income from continuing
 operations 8.0 7.3 14.1 13.0
 Discontinued operations --- --- --- ---
 Net income $ 8.0 $ 7.3 $14.1 $13.0
 Income per unit from
 continuing operations $0.66 $0.60 $1.16 $1.07
 Discontinued operations --- --- --- ---
 Net income per unit $0.66 $0.60 $1.16 $1.07
 Number of units 12.1 12.1 12.1 12.1
 /delval/
 -0- 7/17/92
 /CONTACT: Thomas B. Dornblaser of Buckeye Partners L.P., 800-422-2825/
 (BPL) CO: Buckeye Management Company; Buckeye Partners, L.P. ST: Pennsylvania IN: OIL SU: ERN


MK -- PH016 -- 0191 07/17/92 11:14 EDT
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Publication:PR Newswire
Date:Jul 17, 1992
Words:417
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