Kinder Morgan Swings to Loss in Q4

Maritime Activity Reports, Inc.

January 20, 2016

U.S. pipeline giant Kinder Morgan Inc swung to a fourth-quarter loss as it moved lower volumes of oil and gas amid falling prices.

 
The company said it does not expect to access the capital markets to fund growth projects in 2016 as it slashed dividend by 75 percent in December.
 
The company said it cut its 2016 capital budget by about $900 million.
 
The Houston-based company posted net loss available to shareholders of $637 million in the quarter ended Dec. 31, compared with profit of $126 million a year earlier.
 
 
(Reporting by Anet Josline Pinto in Bengaluru; Editing by Don Sebastian)
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