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OIL AND GAS
U.S. imports of Saudi Arabian oil increased from last year
by Daniel J. Graeber
Washington (UPI) Jun 26, 2013


Enbridge gets nod for Bakken oil pipeline from North Dakota
Houston (UPI) Jun 26, 2013 - Construction of the Sandpiper pipeline in North Dakota for Bakken crude oil is scheduled to start as early as Tuesday, Enbridge Energy said.

Enbridge, which has headquarters in Houston, said it received the necessary permits from the North Dakota Public Service Commission to start work on the Sandpiper pipeline as early as July 1. The pipeline should go into service in early 2016.

Enbridge Energy President Mark Maki said the pipeline could move more than 20 percent of all the oil produced from the Bakken reserve area in North Dakota.

"The economy in the region and nation overall continue to benefit from Bakken oil production," he said in a statement Wednesday. "This project will help get Bakken product to desirable markets, continuing to bolster economic growth."

North Dakota's economy is outpacing the rest of the nation in part because of oil production. Output from the Bakken area passed the 1 million barrel per day mark for the first time ever in April.

Sandpiper would stretch 616 miles from Tioga, N.D., through Minnesota and to an Enbridge terminal in Superior, Wisc. It would then transfer oil to other pipelines for delivery to the U.S. and Canadian refinery markets.

Oil imports from Saudi Arabia for the first three months of 2014 were more than 30 percent higher year-on-year, the U.S. Energy Department said.

The Energy Information Administration, the statistical arm of the Energy Department, published data Wednesday showing imports from members of the Organization of Petroleum Exporting Countries.

Saudi Arabia was the largest OPEC contributor to the U.S. market. For the first three month of 2014, Saudi crude oil imports averaged 1.45 million barrels per day, a 31 percent increase year-on-year.

Venezuela was the No. 2 source of crude oil among OPEC members. The 753,000 bpd for the first three months of the year was relatively on par with last year.

Total imports from OPEC, however, have declined. EIA said the United States imported on average 3.3 million bpd from OPEC for the three months ending in March, nearly 6 percent less than the same period in 2013.

Canada remains the top foreign source for oil in the U.S. market. EIA said the three-month average for Canadian imports was 3.2 million bpd, relatively consistent with last year. Mexico was the No. 2 non-OPEC contributor with 924,000 bpd imported on average for the first three months of 2014.

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