Law360, New York (May 12, 2015, 1:18 PM EDT) -- Tesoro Corp. has put a hold on a proposed 135-mile crude oil pipeline outside Salt Lake City, Utah, in the wake of falling oil prices.The oil giant made the decision not to go forward with the Uinta Express Pipeline while doing a review of its proposed projects, according to the company. The industry has been struggling since an increase in domestic natural gas supply led to falling oil prices. If the market turns, Tesoro said, it may reconsider the pipeline project.“We are pleased with the positive engagement, community awareness and support we received for the project,” the company said... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
Tesoro halts proposed 135 mile crude oil pipeline outside Utah , Salt Lake City in the wake of falling oil prices. The oil giant decided not to go ahead with the Uinta Express Pipeline which doing a review of its proposed projects according to the company. It said it may reconsider if the market turns.