MDU Resources’ plans for a second refinery in North Dakota are being put on hold after a volatile mix of market conditions — largely paced by low oil prices — led the Dakota Prairie Refinery west of Dickinson to post larger-than-expected losses in 2015.
The company said in late 2014 that it had planned to build a second greenfield refinery in Minot. In its latest capital investment report filed Nov. 17 with the Securities and Exchange Commission, MDU Resources stated capital expenses for a second refinery had been removed from its forecast as it “focuses on optimizing its current refinery investment.”
“Once we reach the point where we can sit back and say this (the Dakota Prairie Refinery) is an optimized facility and it’s producing like we want it to be, then we’ll look at expansion,” MDU Resources public relations manager Tim Rasmussen said Thursday.
Continue reading “Dakota Prairie Refinery posts losses, MDU Resources puts second refinery on hold”
Dustin Monke 