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BPMP declares increased first quarter 2018 distribution

Release date: 17 April 2018

 

BP Midstream Partners LP (“BP Midstream,” “BPMP” or the “Partnership”) today announced that the Board of Directors of BP Midstream Partners GP LLC, the general partner of the Partnership, declared a quarterly cash distribution of $0.2675 per unit for the first quarter of 2018. The distribution reflects an increase of $0.0050 over the Partnership’s minimum quarterly distribution.

 

The first quarter 2018 distribution will be payable on May 15, 2018, to unitholders of record as of May 1, 2018, with an ex-distribution date of April 30, 2018.

 

About BP Midstream Partners

BPMP is a fee-based, growth-oriented master limited partnership recently formed by BP to own, operate, develop and acquire pipelines and other midstream assets. BPMP’s initial assets consist of interests in entities that own crude oil, natural gas, refined products and diluent pipelines serving as key infrastructure for BP and its affiliates and other customers to transport onshore and offshore production to key refining markets and trading and distribution hubs.

 

For more information on BPMP and the assets owned by the partnership, please visit www.bpmidstreampartners.com.

 

This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of the Partnership’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.

 

Further Information

BP Press Office, US: +1 281-366-4463, uspress@bp.com

BP Press Office, London: +44 (0)207 496 4076, bppress@bp.com

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Phone: 1-800- 831-9146
Goldman Sachs & Co. LLC
Attention: Prospectus Department
200 West Street
New York, NY 10282
Telephone: 1-866-471-2526
Email: prospectus-ny@ny.email.gs.com
Morgan Stanley
c/o Prospectus Department
180 Varick Street, Second Floor
New York, New York 10014
Barclays Capital Inc.
c/o Broadridge Financial Solutions 
1155 Long Island Avenue 
Edgewood, New York 11717 
barclaysprospectus@broadridge.com 
Toll-Free: (888) 603-5847
Credit Suisse 
Attention: Prospectus Department 
One Madison Avenue, Level 1B
New York, New York 10010
newyork.prospectus@credit-suisse.com
Toll-Free: (800) 221-1037
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Toll-Free: (866) 803-9204
prospectus-eq_fi@jpmchase.com
UBS Securities LLC
1285 Avenue of the Americas
New York, NY 10019
Attn: Prospectus Dept.
Phone: (888) 827-7275
   

When available, to obtain a copy of the prospectus free of charge, visit the SEC’s website, www.sec.gov, and search under the registrant’s name, “BP Midstream Partners.

 

A registration statement relating to the common units has been filed with the Securities and Exchange Commission but has not yet become effective. The common units may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sales of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

BP Midstream Partners is a fee-based, growth-oriented master limited partnership recently formed by BP to own, operate, develop and acquire pipelines and other midstream assets. BP Midstream Partners’ initial assets consist of interests in entities that own crude oil, natural gas, refined products and diluent pipelines serving as key infrastructure for BP and its affiliates and other customers to transport onshore and offshore production to key refining markets and trading and distribution hubs.

 

Further information

BP Press Office, US: +1 281-366-4463 uspress@bp.com
BP Press Office, London: +44 (0)207 496 4076, bppress@bp.com

 

Forward looking statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words “believe,” “expect,” “anticipate,” “intend,” “estimate” and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict, and there can be no assurance that actual outcomes and results will not differ materially from those expected by our management. These forward-looking statements involve certain risks and uncertainties, including, among others, that our business plans may change as circumstances warrant, our common units may not begin trading on the New York Stock Exchange as expected and the offering may not close as expected. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the "Risk Factors" section of the prospectus included in the registration statement on Form S-1, in the form last filed with the SEC. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.