BISMARCK, N.D. (AP) — The percentage of North Dakota oil shipped by rail will likely jump significantly in the next year as producers increasingly turn to trains to reach U.S. refineries where premium prices are fetched, the state’s top oil regulator told lawmakers recently.
Lynn Helms, director of the Department of Mineral Resources, told the Legislature’s Government Finance Committee that he expects as much as 90 percent of the state’s crude will move by rail in 2014, up from about 60 percent at present.
North Dakota, the nation’s No. 2 oil producer behind Texas, is on pace to surpass 1 million barrels daily early in 2014, Helms has said.
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