By Stephanie Kelly

NEW YORK (Reuters) – The U.S. firm mentioned on Tuesday that vitality infrastructure firm Enterprise Merchandise Companions reported decrease revenue for the second quarter on account of a major year-over-year decline in pure fuel liquids costs, which hit margins.

Adjusted earnings earlier than curiosity, tax, depreciation, and amortization (EBITDA) for the second quarter of 2023 was $2.17 billion, in comparison with $2.36 billion a yr earlier.

It mentioned decrease revenues on the corporate’s EFS Midstream System, in addition to decrease volumes of its propylene and octane boosting enterprise, additionally impacted earnings.

It added that this was partly offset by elevated revenues from elevated volumes of pure fuel liquids, pure fuel and crude oil.

Through the quarter, the corporate noticed working data for pure fuel pipeline volumes and pure fuel liquids fraction volumes.

New tasks have introduced on-line together with the 400 million cubic toes per day of Haynesville enlargement of the Acadian pure fuel pipeline system, and the Poseidon cryogenic pure fuel processing plant within the Midland Basin.

It additionally launched its twelfth NGL fraction and its second propane dehydrogenation plant in Chambers County, Texas.

The corporate is on schedule to finish the Mentone II pure fuel processing plant within the Delaware Basin within the fourth quarter, and the primary part of the Texas Western merchandise pipeline system on the finish of 2023.

(Reporting by Stephanie Kelly; Modifying by Jean Harvey)