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BUCKEYE PARTNERS L.P. ANNOUNCES EARNINGS

 BUCKEYE PARTNERS L.P. ANNOUNCES EARNINGS
 EMMAUS, Pa., April 16 /PRNewswire/ -- Buckeye Management Company,


general partner of Buckeye Partners, L.P. (NYSE: BPL), today reported that the Partnership's 1992 first quarter income from continuing operations was $6.1 million, or $.51 per unit, compared with 1991 income from continuing operations of $5.7 million, or $.47 per unit.
 Revenue and operating income for the 1992 first quarter were $37.2 million and $13.2 million, respectively, compared with $35.6 million and $12.6 million, respectively, for the first quarter last year.
 First quarter revenue of $37.2 million was $1.6 million more than last year due to a 3 percent increase in total volume transported during the quarter and the effect of rate increases implemented in July 1991. Volume transported in the first quarter of 1992 averaged 867,300 barrels per day compared with an average of 843,700 barrels per day in the first quarter last year. Gasoline volume was down approximately 1 percent, while distillate volume was up 9 percent and turbine fuel volume was up 3 percent.
 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)
 Three Months Ended March 31 1992 1991
 Revenue $37.2 $35.6
 Operating expenses 21.3 20.5
 Depreciation and amortization 2.7 2.5
 Total operating expenses 24.0 23.0
 Operating income 13.2 12.6
 Interest expense & other (7.1) (6.9)
 Income from continuing
 operations 6.1 5.7
 Discontinued operations --- ---
 Net income $ 6.1 $ 5.7
 Income per Unit from
 continuing operations $0.51 $0.47
 Discontinued operations --- ---
 Net income per Unit $0.51 $0.47
 Number of units 12.1 12.1
 /delval/
 -0- 4/16/92
 /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


LJ -- PH016 -- 9236 04/16/92 11:24 EDT
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Publication:PR Newswire
Date:Apr 16, 1992
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