ETP, Sunoco Logistics Committed to Dakota Access Pipeline Project

Pipeline operators Energy Transfer Partners and Sunoco Logistics were lower on Monday after being told to find an alternate route for the Dakota Access pipeline project.
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The U.S. Army Corp of Engineers did not grant pipeline operators -- Energy Transfer Partners (ETP) and Sunoco Logistics Partners (SXL) -- a permit to construct the highly controversial Dakota Access pipeline project without rerouting around Lake Oahe in North Dakota. Shares of both companies were taking a hit during the trading session Monday. The Army Corp of Engineers had announced on Nov. 14 that it would delay the decision on the easement to allow for discussion with the Standing Rock Sioux Tribe. The tribe's reservation is located about a half mile south of the proposed crossing. Despite the decision, the companies say they remain fully committed to completing the project. Analysts at Stifel are also confident the Dakota Access pipeline will get completed without rerouting given President-elect Donald Trump's stated support for the project.

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