Kinder Morgan Energy Partners LP
) extinguished a fire at an ethanol truck rack at its terminal in
Per the local media, an explosion was reported at the terminal,
along the Mississippi River. However, the company spokeswoman
argued that there was no explosion but just a fire that has been
put off. The Harvey Volunteer Fire Department was quick to put
out the fire soon after the incident.
The fire is not likely to have any impact on the partnership's
customers. The cause of fire is yet unknown and an investigation
is underway to discover the cause of the fire.
A truck driver suffered burns as a result of the fire, but is now
stable. The truck was in an ethanol loading area at the
partnership's terminal when the fire broke out at about 11:15
According to the Kinder Morgan website, the partnership stores
and transports petrochemicals and other bulk material at several
Louisiana facilities. The facility is a loading and unloading
terminal as well as stores chemicals, vegetable oils, alcohol and
Kinder Morgan is one of the largest publicly traded master
limited partnerships (MLPs) and generally serves as a benchmark
for the pipeline MLP group. A focus on fee-based and diversified
businesses has enabled the partnership to spread its business
risks. In addition, the CO2 business is a major growth avenue for
the partnership with the commodity price risk being offset by a
long-term hedging strategy.
Kinder Morgan carries a Zacks Rank #3 (Hold). However, there are
other stocks in the oil and gas sector -
Range Resources Corp.
Susser Petroleum Partners LP
) - which hold a Zacks Rank #1 (Strong Buy) and are good
DRIL-QUIP INC (DRQ): Free Stock Analysis
KINDER MORG ENG (KMP): Free Stock Analysis
RANGE RESOURCES (RRC): Free Stock Analysis
SUSSER PETRLEUM (SUSP): Free Stock Analysis
To read this article on Zacks.com click here.