Petroleum Council Releases Independent Study Results - KFYRTV.COM - Bismarck, ND - News, Weather, Sports

Petroleum Council Releases Independent Study Results

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Bakken crude oil has gained a lot of press after being involved in several rail accidents. These incidents caused the North Dakota Petroleum Council, one of the sponsors of the Williston Basin Petroleum Conference, to hire an independent study. Today, the council released their preliminary findings.

Bakken crude is the heart of this conference, and it's qualities have been hotly debated. Today, the Petroleum Council released an independent study that states North Dakota's Bakken crude presents no greater risks than other flammable liquids, that are shipped by rail.

The study took more than 150 samples, and the data shows the crude falls within the Department of Transportation's requirements to be shipped in the DOT 111 cars. The results also are the first step in creating a benchmark for Baken crude, like WTI and Brent. Industry leaders say this would create an accurate price for producers and buyers of the crude.

"We found no surprises. There is nothing that is outlying in the Bakken material that doesn't fit in the 49 CFR," says Kari Cutting of the North Dakota Petroleum Council.

"The first step in what we were mainly talking about is to get the quality set. Then we can ship a load of crude oil from the Williston Basin and it has the BKN stamp on it. The person at the other end knows what they're getting," says Jeff Hume of Continental Resources.

Both Jeff Hume and Kari Cutting said the study also shows that one of the DOT tests to determine what packing group the crude oil is shipped in can provide different results.

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