BISMARCK, N.D. — MDU Resources Group Inc. has reported a decrease in profits for 2015 due to losses at its North Dakota refinery and warmer winter weather that cut natural gas and electricity sales.
The Bismarck-based energy, mining and construction company says its profits for ongoing operations in 2015 were $180 million, down from $205.5 million in 2014.
MDU and Indianapolis-based Calumet Specialty Products Partners’ $430 million Dakota Prairie Refinery near Dickinson began selling fuel in May but lost money due to low fuel prices and a slowdown in North Dakota oil activity. MDU says its share of the loss from the refinery was $20.5 million.
MDU is the parent company of Montana-Dakota Utilities. The company says warmer-than-normal temperatures across its eight-state service territory decreased natural gas and electricity sales by $7.2 million.
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