Oil Spill Companies Releasing New Data to Investors
TransCanada (NYSE:TRP), which had two oil spills in May, is now saying shipments on its Keystone pipeline, which runs from Alberta to Oklahoma, will be cut by over 19% while it works on the line. The company is forecasting between 400,000 and 450,000 barrels per day in July.
Transocean (NYSE:RIG) has released the results from its internal investigation into last year’s Gulf spill. They are claiming that the disaster was caused by a succession of decisions, many of which were made by BP (NYSE:BP).
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In other news, Energy Transfer Partners (NYSE:ETP) and Regency Energy Partners (NASDAQ:RGNC) will jointly invest $700 million to construct a 530-mile natural gas pipeline in Texas with a minimum capacity of 130,000 bpd. The pipeline is expected to be completed by 2013.