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Tesoro Seeks More Canadian Crude Oil for Its West Coast Refineries

Home Forums Refining Community Refinery News Tesoro Seeks More Canadian Crude Oil for Its West Coast Refineries

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    Anonymous

    Tesoro Corp. (TSO) is looking for ways to bring more Canadian crude oil to its West Coast refineries via rail cars or barges in a plan that might ultimately affect Alaskan oil exports, Chief Executive Greg Goff said Thursday.
    Tesoro has been aggressive in expanding its crude-oil sources as a way to bring down costs at its refineries along the West Coast, home to the vast majority of its operations. Tesoro and other U.S. refiners have been steadily increasing their use of a domestic oil supply strongly bolstered by recent developments in drilling technology.
    San Antonio-based Tesoro could use barges to bring heavy Canadian crude oil to the U.S. Pacific Northwest and then ship the crude oil via rail to its California refineries, Mr. Goff said.
    West Canadian crude oil is heavily discounted because a lack of pipelines keeps it from easily reaching markets, creating a supply glut. As more of it travels via rail or barge to the West Coast–home to 17% of the total U.S. refining capacity–the consumption of Alaska North Slope crude oil in that region could start to decline, Mr. Goff said. That, in turn, could lead to ANS crude oil being exported abroad, an analyst from Tudor Pickering Holt & Co. noted.
     
    Read more at:
    http://online.wsj.com/art…O-20130207-710688.html

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