Dakota Access pipeline delay hurts developer, not necessarily N.D. oil producers

The Dakota Access oil pipeline’s opening is in limbo now that the U.S. Army has denied critical permits for a water crossing near the Standing Rock Sioux reservation.

For the pipeline’s developer, Dallas-based Energy Transfer Partners, that’s particularly bad news. Delays already have cost it nearly a half-billion dollars. Losses are tallying daily, and oil shippers could soon demand to renegotiate contracts.

But for North Dakota’s overall oil industry, the pipeline’s delay isn’t a big short-term issue since petroleum production is in the dumps. That’s not likely to change much in 2017, as the global oil glut is expected to linger.

http://www.startribune.com/dakota-access-pipeline-delay-hurts-developer-not-necessarily-n-d-oil-producers/405685586/