Businessweek

ts in 250 additional sites. Transportation: The company owns or leases various assets to provide delivery of crude oil, refined products, natural gas and NGL. These assets include pipeline systems; petroleum product, crude oil and LPG terminals; a petroleum coke handling facility; a fleet of marine vessels; and a fleet of railcars. Pipelines and Terminals: As of December 31, 2012, its transportation organization managed approximately 18,000 miles of crude oil, natural gas, NGL and petroleum products pipeline systems in the United States, including those partially owned or operated by affiliates and approximately 3,200 miles reported in its Midstream segment for the Rockies Express, Sand Hills and Southern Hills pipeline systems. The company owned or operated 39 finished product terminals, 37 storage locations, 5 LPG terminals, 10 crude oil terminals and 1 petroleum coke exporting facility. Tankers: As of December 31, 2012, the company utilized 12 double-hulled crude oil tankers that it chartered, with capacities ranging in size from 713,000 to 2,100,000 barrels. These tankers are primarily used to transport feedstocks to certain of its refineries. Additionally, in 2012, the company entered into time charters on two Jones Act tankers to deliver shale crude to its Gulf Coast and East Coast refineries. Truck and Rail: Truck and rail operations support the company’s U.S. refinery and specialty operations. Rail movements are provided via a diverse fleet of approximately 8,500 owned and leased railcars. Specialty Businesses The company manufactures and sells various specialty products, including pipeline flow improvers and anode material for high-power lithium-ion batteries. Its specialty products are marketed under the LiquidPower and CPreme brand names. Other Immingham Combined Heat and Power Plant: The Immingham Combined Heat and Power Plant is a wholly owned 1,180-megawatt facility in the United Kingdom, which provides steam and electricity to the Humber Refinery and steam to a neighboring refinery, as well as merchant power into the U.K. market. The plant is capable of generating up to approximately 2.0 million pounds per hour of process steam. Sweeny Cogeneration: The company owns a 50 percent operating interest in Sweeny Cogeneration, L.P., a joint venture which owns a simple-cycle cogeneration power plant located adjacent to the Sweeny Refinery. The plant generates electricity and provides process steam to the refinery, as well as merchant power into the Texas market. The plant has a net electrical output of 440 megawatts and is capable of generating up to 3.6 million pounds per hour of process steam. MIDSTREAM The Midstream segment gathers, processes, transports and markets natural gas; and transports, fractionates and markets natural gas liquids in the United States. The Midstream segment includes a 50 percent equity investment in DCP Midstream, LLC (DCP Midstream). The Midstream segment purchases raw natural gas from producers and gathers natural gas through a network of pipeline gathering systems. The natural gas is then processed to extract NGL from the raw gas stream. The remaining residue gas is marketed to electric utilities, industrial users and gas marketing companies. Most of the NGL is fractionated—separated into individual components such as ethane, propane and butane—and marketed as chemical feedstock, fuel or blendstock. Total NGL extracted in 2012, including its share of equity affiliates, was 201,000 barrels per day. The Midstream segment also includes an interstate natural gas transmission line. DCP Midstream: The Midstream segment includes the company’s 50 percent equity investment in DCP Midstream, which is headquartered in Denver, Colorado. As of December 31, 2012, DCP Midstream owned or operated 62 natural gas processing facilities, with a net processing capacity of approximately 7.1 billion cubic feet per day. Its natural gas pipeline systems included gathering services for these facilities, as well as natural gas transmission, and totaled approximately 63,000 miles of pipeline. DCP Midstream also owned or operated 12 NGL fractionation plants, along with natural