Kinder Morgan 1Q Profit Falls 24 Pct

HOUSTON (AP) — Kinder Morgan Energy Partners LP, an energy transportation and storage company, said its first quarter income slid 24 percent due to ongoing weak commodity prices and market conditions which lowered crude oil prices in its CO2 business, decreased transportation volumes in its products pipelines segment and drove down steel handling in its bulk terminals business.

Quarterly earnings attributable to Kinder Morgan fell to $263.9 million, or 15 cents per unit, compared with $346.7 million, or 63 cents per unit during the same period last year.

Results include a loss of about $18 million, the majority of which was a noncash tax adjustment on its Trans Mountain pipeline system. ...