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A proposed $1.8 billion oil pipeline from North Dakota to Oklahoma has been called off because the company behind the deal couldn't rally enough commitments to transport their oil to Cushing.
Tulsa-based Oneok Partners LP announced Tuesday that the Bakken Crude Express Pipeline won't be built.
Oneok says the outlook for crude oil supply is robust but it could not get enough producers to promise long-term use of the 1,300-mile pipeline.
The company says it still has up to $4.8 billion of announced natural gas and natural gas liquids projects under way and many of them are in the Bakken Shale.
Oneok says the pipeline would have moved 200,000 barrel.
Unconventional natural gas has become a global hotspot. It is changing the pattern of the world energy. Shale gas will become one of the three energy resources in the next 20 years. Read More >
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