Kinder Morgan Energy Partners (KMP) reported its third quarter results of 40 cents per limited partner unit versus the Zacks Consensus Estimate of 38 cents and year-earlier earnings of 54 cents. All the business segments experienced year over year growth except for the CO2 business, which was negatively impacted by significantly lower crude oil prices. Importantly, the partnership increased its quarterly distribution by 3% to $1.05 per unit ($4.20 annualized) from $1.02 per unit ($4.08 annualized) in the year-ago quarter. The new distribution is payable on Nov 13 to unitholders of record on Oct 30, 2009. Kinder Morgan’s distributable cash flow for the quarter before one-time items was $320 million, up 14% year over year. Distributable cash flow per unit was $1.12, up nearly 3% year over year. The Product Pipeline segment registered earnings before depreciation, ...

Earlier today, Sunoco Logistics Partners L.P. (SXL) -- a master limited partnership (MLP) -- announced weaker-than-expected third quarter results, hurt by a 50% fall in sales on the back of lower crude oil prices. The partnership reported earnings per unit (EPU) of $1.13, well below the Zacks Consensus Estimate of $1.44. In the year-ago period, Sunoco Logistics earned $1.41 per unit. Distribution Raised However, the partnership raised its quarterly distribution by 2.4% sequentially and 10.4% year-over-year to $1.065 per unit or $4.26 per unit annualized, representing the 25th distribution increase in the past 26 quarters. Distributable cash flow increased approximately 4% year-over-year to $54.4 million. Refined Products Pipeline System Operating income in the Refined Products Pipeline System segment increased more than 40% year-over-year to $13.3 million, primarily resulting from a $6.3 million increase in sales and other revenue. The revenue gains reflected contributions from ...

Last Week, Petroleo Brasileiro SA or Petrobras (PBR) posted negative second-quarter results, which were in line with expectations due to the huge slump in oil prices in 2009 from the last year. Fall in oil price from $109 per barrel in the first half of 2008 to $52 per barrel in the first half of 2009 had a strong effect on the company. Moreover, greater volumes of financing, of commercial hedge operations and the impact of exchange rate on foreign assets also hurt quarterly results.

Net profit declined 20% to R$7.73 billion ($4.16 billion), down from R$9.72 billion in the second quarter of 2008. The company posted an EBITDA of R$17.51 billion compared to R$18.63 billion the year-ago period. However, oil and gas production in Brazil was up 6% year over year and 1% sequentially. This was due to new oil projects, including the Frade field, which is

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