Oil Transportation Market Development - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Oil Transportation Market Development

Posted: Updated:

An increase in production in the Bakken is leading to more possibilites for the future of Western North Dakota.

Gary Brode has more on what's in store for the future of oil transportation in this week's Eye on Energy.

North Dakota's crude oil production continues to increase.

Which means transportation for that oil needs to increase also and so the question many in the oil production field are asking is...

(Justin Kringstad, Director, North Dakota Pipeline Authority) "How do we bring this North Dakota light sweet oil and get it connected to those refineries that we may have to had access to in previous years."

Something on the minds of many at the Bakken Investor Conference this past weekend.

Hundreds were in attendance, many looking to get become a part of one of the richest areas in the country.

(Eric Schaefer, Senior Business Specialist, Enbridge) "The market right now continues to surprise...production in North Dakota continues to rise, so Enbridge North Dakota is continuing to expand our system to meet those demands of the additional North Dakota region.

With increased production, comes increased expectations.

Kringstad believes growth will continue for the next 5-10 years.

Transportation of oil is done by railroad and pipeline

As of now, 71% of oil is moved by railroad, but Enbridge believes in the need for pipeline.

(Eric Schaefer, Senior Business Specialist, Enbridge) "We see the need for more export capacity via pipeline out of the Bakken region to supply the mid-American refineries that are going to be demanding the light oil crude to get to them."

That can has been made clear by the companies actions as of late.

Enbridge recently completed two projects adding 225,000 barrels of export capacity.

Even looking to double that addition with a billion dollar project.

It seems many companies are enjoying the riches of the Bakken, not just Enbridge.

(Justin Kringstad, Director, North Dakota Pipeline Authority) "I think it's a win-win. We're finding refineries on the coastal areas that traditionally did not have Bakken access and now have it. They are really enjoying the way our crude oil is refining in their systems. So it's a win-win, were going into production and we're finding markets that have a large desire for our crude oil."

When it comes to energy development in North America, all roads lead to the Bakken.

In Minot, Gary Brode, KX News

  • Minot/Williston NewsMore>>

  • MHS Boys Golf Team Preparing for Season Opener

    MHS Boys Golf Team Preparing for Season Opener

    Thursday, April 17 2014 12:01 AM EDT2014-04-17 04:01:35 GMT
    The Minot High boys golf team is looking to pick up right where it left off last season. 21 players are out for this years team that returns 4 of its top 6 golfers after finishing 4th last year in the
    The Minot High boys golf team is looking to pick up right where it left off last season. 21 players are out for this years team that returns 4 of its top 6 golfers after finishing 4th last year in the
  • Student Spotlight --- Dunseith

    Student Spotlight --- Dunseith

    Wednesday, April 16 2014 11:48 PM EDT2014-04-17 03:48:49 GMT
    Finally tonight, Student Spotlight - where we focus on a top graduate from a local high school. This time, we're in Dunseith where Molly Allery is at the top of her class. (Molly Allery, Dunseith Senior)
    Finally tonight, Student Spotlight - where we focus on a top graduate from a local high school. This time, we're in Dunseith where Molly Allery is at the top of her class. (Molly Allery, Dunseith Senior)
  • Moldy Homes Reopening?

    Moldy Homes Reopening?

    Wednesday, April 16 2014 7:55 PM EDT2014-04-16 23:55:38 GMT
    Nearly three years after the flood of the Mouse River, some Minot homes are just now being cleaned up and rebuilt. But some homeowners say the flooded homes that had been untouched until now - what some
    Nearly three years after the flood of the Mouse River, some Minot homes are just now being cleaned up and rebuilt. But some homeowners say the flooded homes that had been untouched until now - what some
Quick Clicks
Closings/Delays
View list
Calendar
What's happening?
Lottery Results
Feeling lucky?
Viewer Photos
Submit yours!
Road Report
Current conditions
TV Listings
See what's on
Gas Prices
Check near you
E-Mail Newsletter
Signup now

Most Popular

Stories
Videos
loading...
Powered by WorldNow
General information or questions:
kxinfo@kxnet.com

News:
Bismarck:
Phone: 701-223-9197
News Fax: 701-223-1985

News:
Minot:
Phone: 701-852-2104
News Fax: 701-838-1050
All content © Copyright 2000 - 2014 WorldNow and KXNET. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.