Magellan Midstream Holdings, L.P.
Magellan Midstream Holdings, L.P. (Magellan Midstream) is a limited partnership that owns and controls the general partner interest and incentive distribution rights of Magellan Midstream Partners, L.P.(MMP). MMP is engaged in the transportation, storage and distribution of refined petroleum products. Further, the company owns and controls Magellan GP, LLC, which is the general partner of MMP. The company principally operates in the U.S. It is headquartered in Tulsa, the US.
During the year 2008, The company has approximately 8,700 mile petroleum products pipeline with 49 product terminals in the U.S. The average daily shipments of the company are 876,000 barrels per day.The company reported revenues of (U.S. Dollars) USD 1213.6 million during the fiscal year ended 2008, a decrease of 8.0% from 2007. The operating profit of the company was USD 383.0 million during the fiscal year 2008, an increase of 35.7% over 2007. The net profit of the company was USD 85.7 million during the fiscal year 2008, an increase of 54.6% over 2007.