Kinder Morgan Q3 Revenue Dips on Harvey Impact
Pipeline operator Kinder Morgan Inc reported a 1.5 percent fall in quarterly revenue, partly due to the impact of Hurricane Harvey. In August, Harvey hit the Texas shore as a fierce Category 4 hurricane, causing massive flooding, which knocked out 11 percent of U.S. refining capacity, a quarter of oil production from the U.S. Gulf of Mexico, and closed ports all along the Texas coast. Kinder Morgan had shut down parts of its KMCC pipeline system for crude and condensate…
PSC, BP Claims Against Transocean Resolved
Transocean Ltd. announced that it has reached two separate settlement agreements, with the Plaintiffs' Steering Committee (the "PSC") and with BP Exploration & Production Inc. and BP America Production Co. ("BP"). These settlements together resolve substantially all outstanding claims against Transocean arising from the April 20, 2010, Macondo Well incident involving the Deepwater Horizon in the Gulf of Mexico. Under the terms of the agreement with the PSC, which is subject to approval by the U.S.
