Kinder Morgan Partners (KMP -1.6%) cancels plans for the 277K bbl/day Freedom pipeline that...


Kinder Morgan Partners (KMP -1.6%) cancels plans for the 277K bbl/day Freedom pipeline that would have given refiners on the U.S. west coast such as Valero (VLO) and Tesoro (TSO) a direct stream of West Texas crude. KMP says it did not receive enough interest to commit to building the $2B project, and will switch its focus to crude-by-rail projects in Texas and California.

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Comments (3)
  • Be Here Now
    , contributor
    Comments (6221) | Send Message
     
    Good news for California production companies? Oil produced in CA is priced as Brent, and although the Brent premium over WTI has narrowed, it is still significant.
    31 May 2013, 02:29 PM Reply Like
  • jerrywengler
    , contributor
    Comments (656) | Send Message
     
    Good to see the market flexibility of KMP.
    31 May 2013, 05:19 PM Reply Like
  • alpinair
    , contributor
    Comments (20) | Send Message
     
    I read that Valero (VLO) recently purchasied several refiners in So. California opted OUT of the opportunity and commitment for the KMP pipeline as they have extensive train exposure and "wanted to keep their options open."
    1 Jun 2013, 12:11 PM Reply Like
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