Petroterminal Oil Line Reversal Benefits Tesoro
Thursday, September 10, 2009 16:50
Petroterminal Oil Line Reversal Benefits Tesoro
The reversal of the Petroterminal de Panama oil pipeline, which used to flow from the Pacific to the Atlantic but now flows from the Atlantic to the Pacific Basin, has enabled the Tesoro Corporation to ship its first barrels of crude oil. This reversal enables the company to provide more oil to its refineries in California, Washington State, Alaska and Hawaii accordingly. The first shipment was sourced from Colombia, and is referred to as a Castilla blend.
The latest developments have revealed that Tesoro will experience strategic advantages in access to additional oil types, as well as increased access to tankers, storage and delivery of their barrels. The vice president of arbitrage trading for Tesoro Refining and Marketing Company, Mr. Doug Koskie, further confirmed the positive impact upon their entire supply and logistics chain. The company currently has a capacity of 660,000 barrels per day via its seven refineries located in the previously mentioned states.
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