Tesoro wins contract to ship petroleum coke from Pittsburg to China’s Sinochem
Friday June 11, 2008 BizJournals
Tesoro Corp. has inked a deal with global conglomerate Sinochem Corp. to sell it 150,000 tons of a new, higher grade of petroleum coke, an oil refining byproduct.
The value of the contract wasn’t disclosed. Petroleum coke can be used as fuel in the manufacturing of steel, titanium and aluminum, and as material for manufacturing everything from flat-screen TVs to charcoal briquets.
Tesoro, which operates the Bay Area’s second-largest refinery in Martinez, agreed in May to sell Sinochem 150,000 tons of coke after a three-year period of negotiation, said Brad Nail, Pittsburg economic development director. The first shipment of about 30,000 tons left Pittsburg June 24.
Sinochem, one of China’s largest companies, is involved in logistics, industrial investment, chemicals, rubber, petrochemicals and energy. Pittsburg city leaders made three trips to Shanghai and hosted Sinochem officials once to help Tesoro win the coke contract, Nail said.