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TEPPCO PARTNERS, L.P. REPORTS RECORD FIRST QUARTER RESULTS

 HOUSTON, April 16 /PRNewswire/ -- TEPPCO Partners, L.P., (NYSE: TPP) today reported record first quarter net income of $13.5 million, or $0.92 per unit, compared with 1992 first quarter net income of $7.1 million, or $0.49 per unit.
 Operating revenues of $48.8 million for the first quarter 1993 were 18 percent higher than the $41.2 million reported for the 1992 period. The improvement was due to increased deliveries of liquefied petroleum gases (LPGs) to the Midwest and Northeast market areas, increased refined petroleum products deliveries to the Midwest market area and a 4 percent general tariff increase on both refined petroleum products and LPGs, effective April 1, 1992.
 Sustained cold weather in the upper Midwest and in western Canada caused significant shifting in availability of propane supply. This, coupled with low inventories at the end of 1992, created a very strong demand for propane deliveries in TEPPCO's Midwest market area. Normal winter weather in the Northeast led to a return to normal propane demand.
 The completion of a pipeline connection to a large midwestern refiner in late 1992 resulted in additional natural gasoline throughput. Likewise, jet fuel deliveries increased due to the commencement of a long-term agreement with a major airline at the Greater Cincinnati/Northern Kentucky International Airport.
 First quarter 1993 operating expenses were $20.8 million, compared with 1992 expenses of $19.7 million for the same period. The increase was attributable to throughput-related costs, primarily power, and property taxes, which were partially offset by savings from staff and overhead reductions implemented in 1992.
 TEPPCO Partners, L.P. is a publicly owned master limited partnership. TE Products Pipeline Company, Limited Partnership, the operating partnership, is one of the largest common carrier pipelines of refined petroleum products and liquefied petroleum gases in the United States.
 TEPPCO PARTNERS, L.P.
 Financial Highlights
 (In Millions, Except Per Unit and Per Barrel Amounts)
 Unaudited
 Period ended Three months
 March 31
 1993 1992
 Operating Revenues $48.8 $41.2
 Operating Expenses 20.8 19.7
 Depreciation 6.0 5.8
 Operating Income 22.0 15.7
 Interest Expense (9.3) (9.3)
 Other Income-Net 0.8 0.7
 Net Income $13.5 $ 7.1
 Net Income Per Unit $0.92 $0.49
 Number of Units 14.5 14.5
 OPERATING DATA
 Barrels Delivered
 Refined Products 19.9 20.3
 LPGs 12.2 10.5
 Mont Belvieu Operations 6.5 5.8
 TOTAL 38.6 36.6
 Average Tariff Per Barrel
 Refined Products $0.81 $0.75
 LPGs 2.07 1.82
 Mont Belvieu Operations 0.15 0.18
 Average System Tariff
 Per Barrel $1.09 $0.97
 -0- 4/16/93
 /CONTACT: Eric W. Thode (media), 713-759-3635, or Brenda J. Peters (investors), 713-759-3954, both for TEPPCO Partners/
 (TPP)


CO: TEPPCO Partners, L.P. ST: Texas IN: OIL SU: ERN

SH -- NY054 -- 6848 04/16/93 14:42 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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