Oil Pipeline Operator May Have Overcharged
Kinder Morgan Energy Partners, owner of U.S. pipelines that handle 2 million barrels of oil products a day, may have overcharged shippers and may have to give refunds and cut prices, federal regulators said.
The Federal Energy Regulatory Commission ruled that rates charged shippers on a line between Los Angeles and Arizona are subject to review.
Shares of Kinder Morgan Energy Partners fell 28 cents to $44.75 and Kinder Morgan Inc., which controls Kinder Morgan Energy Partners, fell 45 cents to $63.68, both on the NSYE. Both are based in Houston.
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