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Tesoro, Savage investing in $100M crude-by-rail West Coast shipping yard

Home Forums Refining Community Energy Tesoro, Savage investing in $100M crude-by-rail West Coast shipping yard

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    Anonymous

    Tesoro Corp. is planning to build a rail complex in Vancouver, Wash., to ship Mid-Continental crude oil to the company’s West Coast refineries.
    San Antonio-based Tesoro (NYSE: TSO) and Savage Cos. are launching a joint venture at the Port of Vancouver that would give the two companies the ability to ship 120,000 barrels of oil a day.
    However, the facility would have the capacity of being expanded to 280,000 barrels per day, if necessary.
    The companies would need approvals from Port of Vancouver officials and other regulators before proceeding with the project, however. Tesoro and Savage would ship in crude sourced from U.S. shale plays.
    The facility should be operational by 2014. It will represent an investment between $75 million and $100 million.
     

     
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    James Aldridge
    Web Editor-San Antonio Business Journal

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