Premium Industrial NewsEnterprise Products to Rein in Capex in Coming Years as Company Gains Ground in Petrochemicals
Enterprise Products to Rein in Capex in Coming Years as Company Gains Ground in Petrochemicals
Industry Segment: Pipelines | Word Count: 714 Words
SUGAR LAND--July 29, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--Midstream operator Enterprise Products Partners' (NYSE:EPD) (Houston, Texas) second-quarter net income held steady year-over-year, rising only slightly from last year to $1.1 billion in second-quarter 2021. While the company is planning more than $1 billion in growth capital expenditures (capex) this year, it plans to ramp this down in subsequent years. Although oil and gas transmission remains at the heart of Enterprise's business, the company is increasingly focusing on the petrochemical sector.
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