TSX:HSE.PR.B - Post by User
Post by
autofocus111on Aug 21, 2019 12:39pm
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Post# 30051012
PPL buys KM Canada
PPL buys KM CanadaI guess they see a future in Canadian tarsands huh.
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Aug 21 (Reuters) - Canada's Pembina Pipeline Corp has agreed to buy Kinder Morgan Canada and the U.S. portion of the Cochin pipeline for C$4.35 billion ($3.28 billion), bulking up its storage resources in Canada. Years of delay in building new pipelines have led to Western Canada's oil production outpacing takeaway capacity and driven up demand for storage tanks. Pembina's deal follows an unsolicited bid for rival Inter Pipeline Ltd, highlighting growing interest in the midstream business of transporting and storing crude. The sale of Kinder Morgan Canada, whose parent is Houston-based Kinder Morgan Inc, also represents the exit of another foreign company from Canada's oil sector.
https://finance.yahoo.com/news/1-pembina-buy-kinder-morgan-105841285.html