Midstream - Rail & Trucks
Tesoro Buying More crude from Bakken Shale
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Tesoro Corp. plans to ship more crude from North Dakota’s Bakken Shale for use in the company’s refinery in Anacortes, Wash., Reuters reported.
The company originally planned to ship up to 40,000 barrels per day of Bakken crude via railcar to its refinery. However, Tesoro CEO Greg Goff told analysts and investors that the company has decided to ship another 10,000 barrels per day of Bakken crude.
San Antonio-based Tesoro (NYSE: TSO) expects to receive its first rail shipment of Bakken crude in September. The company is purchasing more Bakken crude as a way to cut back on its supply of expensive Alaskan North Slope crude.
Tesoro is the largest independent refiner on the West Coast. The company operates seven refineries in the United States. The Anacortes refinery, located about 70 miles…
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