23 June 2013, San Antonio – Operators of California refineries, including San Antonio-based Tesoro Corp., shipped in record amounts of crude from North Dakota’s Bakken Shale, according to a new Bloomberg report.
California refiners used rail to bring in a record 206,172 barrels of Bakken crude in February — an eight-fold increase from a year earlier, Bloomberg reported, citing California Energy Commission data.
Rising rail shipments of crude from the Bakken and South Texas’ Eagle Ford Shale have significantly cut foreign oil imports this year, forcing down their price.
Tesoro (NYSE: TSO) uses rail to transport 50,000 barrels of Bakken crude daily to its Anacortes refinery in Washington and an additional 5,000 barrels to its Golden Eagle plant in California.
Valero Energy Corp. (NYSE: VLO), also based in San Antonio, is developing major rail-offloading stations at its West Coast refineries.
*Sanford Nowlin, San Antonio Business Journal.