Enbridge's Sandpiper Pipeline Deferred, but Maybe not Quite Dead

SUGAR LAND--September 6, 2016--Researched by Industrial Info Resources (Sugar Land, Texas--Enbridge Incorporated's (NYSE:ENB) (Calgary, Alberta) decision to put its proposed Sandpiper Pipeline on indefinite hold doesn't bode well for the project, but it may not necessarily be a final death sentence, given the vagaries of the oil market. Enbridge announced last week it would withdraw regulatory applications pending with the Minnesota Public Utilities Commission for the Sandpiper Pipeline Project. The proposed 616-mile pipeline would move Bakken light crude oil from Enbridge's Beaver Lodge Station, near Tioga, North Dakota, to Enbridge's Superior Terminal, near Superior, Wisconsin. Enbridge first announced the project in 2013, but the dramatic downturn in oil prices has since resulted in a drop in production from North Dakota.

Within this article: Describes the Sandpiper Pipeline Project. Additional companies: Marathon Petroleum Corporation (NYSE:MPC)