Oneok Nixes Potential Keystone XL Rival Over Weak Demand

Law360, New York (November 28, 2012, 3:59 PM EST) -- Oneok Partners LP has canceled plans for a 1,300-mile oil pipeline that would rival TransCanada Corp.'s Keystone XL, running from North Dakota to Oklahoma, saying on Tuesday it did not get enough shipper commitments.

Oneok, a major transporter of natural gas liquids looking to expand into crude oil, had planned to invest up to $1.8 billion between 2012 and 2015 to build the pipeline. It would have carried 200,000 barrels of oil per day — less than half the capacity of the still-in-limbo Keystone XL —...
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