Energy Biz Review: Kinder Morgan PARTNERS With BP, Haliburton Settles SUIT

Here are Thursday’s top stories:

Kinder Morgan Energy Partners (NYSE:KMP) and BP intend to join fores to process and store condensates along the Gulf Coast. At first BP will transport a minimum of 40,000 barrels per day to a $200 million facility that KMP is constructing near the Houston Ship Channel, which will process condensates, such as the ones produced in the Texas Eagle Ford shale play, into various products.

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Noble Energy (NYSE:NE), Chevron Corporation (NYSE:CVX) and Kosmos Energy (NYSE:KOS) are among 11 firms who have won contracts with Sierra Leone, to explore for oil in eight offshore blocks. Turlow’s discovery of the Jubilee field in Ghana ignited exploration for oil in West Africa, but uncertainty remains as to whether the adjacent nation of Sierra Leone possesses commercial quantities.

A Texas court has okayed a resolution of a three-year old suit brought by shareholders of Halliburton Company (NYSE:HAL), in which it was alleged that board members facilitated illegal activity in Iran, Nigeria and in the United States. The firm will not be liable for damages, but it will be required to make several changes to its corporate governance structures.

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