Wednesday, April 18, 2018

Kinder Morgan Canada Sees Continued Risk On Oil Pipeline Expansion

Kinder Morgan Canada Ltd. said April 18 that its Trans Mountain oil pipeline expansion project was facing "unquantifiable risk" due to the British Columbia government's continued opposition and reported a 5.1% drop in first-quarter earnings. British Columbia said April 18 that it would file a legal challenge in the province to determine whether it has the jurisdiction to stop the C$7.4 billion (US$5.9 billion) expansion, which was approved by the federal government in 2016. Kinder Morgan Canada, which was spun off from parent Kinder Morgan Inc. (NYSE: KMI) in May last year, reported a net income of C$44.4 million (US$35.17 million) for the first quarter ended March 31, down from C$46.8 million for the same period last year.

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