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Stock Market & Financial Investment News

News Breaks
May 16, 2013
16:21 EDTKMP, MSBHYKinder Morgan's Tennessee Gas, Mitsubishi Corp sign transportation agreement
Tennessee Gas Pipeline Company, a unit of Kinder Morgan Energy (KMP), has signed a binding, 20-year firm transportation precedent agreement with Mitsubishi Corporation (MSBHY) to ship 600,000 dekatherms per day of natural gas earmarked for the proposed Cameron LNG liquefaction facility in Hackberry,LA, which is slated to begin LNG exports in the 2H17. Mitsubishi will serve as the foundation shipper for TGP's Southwest Louisiana Supply Project, which is designed to provide transportation from various supply basins in Ohio, Pennsylvania, Texas and Louisiana to Cameron Interstate Pipeline, which connects directly to the Cameron LNG Terminal. Kinder Morgan does not own Cameron Interstate Pipeline or the Cameron LNG facility.
News For KMP;MSBHY From The Last 14 Days
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September 30, 2014
17:47 EDTKMPKinder Morgan Energy announces extension of Palmetto Project open season
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September 29, 2014
10:02 EDTKMPKinder Morgan announces NOVA Chemicals as anchor shipper for Utopia project
Kinder Morgan Energy Partners announced it has received a long-term transportation agreement from NOVA Chemicals Corporation to transport ethane and ethane-propane mixtures from the prolific Utica shale area through its previously announced Utica To Ontario Pipeline Access project, which is currently in a binding open season that began Sept. 5, 2014, and will close on Oct. 6, 2014. As part of the UTOPIA project, Kinder Morgan Cochin will develop, construct, own and operate a 240-mile, 12-inch diameter pipeline from Harrison County, Ohio, to Kinder Morgan’s Cochin Pipeline near Riga, Michigan, where the company would then move product eastward to Windsor, Ontario, Canada. UTOPIA would have an initial 50,000 barrels per day of capacity, which is expandable to more than 75,000 bpd. The approximately $500M pipeline project is expected to be in service by early 2018 with the receipt of timely permitting and regulatory approvals.
September 26, 2014
09:54 EDTMSBHYUsiminas board passes resolution dismissing CEO
Ternium (TX) announced that the board of directors of Usinas Siderúrgicas de Minas Gerais (USNZY) passed a resolution dismissing the company's CEO and two other executives from their respective positions at the Usiminas board of officers. The board resolution dismissing the officers was passed with a 5 to 5 vote, and the tie was resolved by the chairman of the board through his casting vote. The dismissal of the officers is part of a controversy that arose within the Usiminas control group with respect to rules applicable to the appointment of senior managers. Ternium believes that the votes cast by the NSSMC Group-appointed members were computed in violation of the shareholders agreement that governs the rights of the members of Usiminas' control group. The NSSMC Group is comprised by Nippon Steel & Sumitomo Corporation, Mitsubishi (MSBHY) and Metal One. Following the dismissal of the officers, the position of CEO of Usiminas will be held, on a temporary basis until a new board of officers is agreed between the T/T Group and the NSSMC Group, by Romel Erwin de Souza, Usiminas' current Vice-president of Technology, who was elected with the same votes that decided the dismissal. Ternium intends to take all reasonable actions to protect its rights and investment in Usiminas.
September 19, 2014
12:39 EDTKMPKinder Morgan spends over $1.5B for hub construction, Reuters says
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