What Do Phillips 66 Partners’ Throughput Volumes Indicate?
PSXP’s throughput volumes
Throughput volumes for Phillips 66 Partners’ (PSXP) wholly-owned pipelines in 3Q16 totaled 876 Mbpd (thousand barrels per day), including volumes on both crude oil and refined products pipelines. PSXP’s NGLs (natural gas liquids) volumes on select joint venture pipelines were 346 Mbpd.
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The above graph shows PSXP’s pipeline throughput volumes on wholly owned pipelines and its terminaling throughput and storage volumes over the last seven quarters. Its terminaling throughput and storage volumes were 983 Mbpd in 3Q16.
Phillips 66 Partners’ throughput volumes depend primarily on the volumes of crude oil processed and refined products produced at Phillips 66’s (PSX) refineries. These volumes, in turn, are primarily dependent on Phillips 66’s refining margins and maintenance schedules.