Vancouver Energy Emphasizes Crude Oil-By-Rail Safety With Tesoro’s New Rail Cars
September 21 2015 - 7:46PM
Tesoro Corporation (NYSE:TSO), along with Savage and BNSF Railway,
today gave local business leaders an opportunity to observe and
learn about the enhanced safety features of Tesoro’s new DOT 120
crude oil rail cars at the Port of Vancouver USA.
In addition to showcasing the rail cars, officials with Tesoro
and Savage, who are joint venture partners in the proposed
Vancouver Energy terminal at the Port of Vancouver USA, presented
new public opinion research results showing strong support for the
terminal by voters in Clark County.
The event focused on crude oil-by-rail safety in Washington
state; the safe operations and handling of crude oil at the Port of
Vancouver USA and proposed Vancouver Energy crude oil-by-rail to
marine loading terminal; and the DOT 120 rail cars’ additional
features that make them safer and better equipped to transport
crude oil than previous models. The rail cars meet the safety
requirements of the new U.S. Department of Transportation standard
with a thicker tank shell, full-height head shields, a tank jacket
and upgraded bottom outlet valve handle. Features that exceed the
new standard include a thicker tank head than required; both
thermal protection and a high-flow pressure relief valve;
protective housing for the manway; and two times the rated tank
test pressure.
Tesoro began working with Union Tank Car Company in February
2014 – more than a year ahead of new federal safety regulations –
to develop the safety-enhanced rail cars consistent with Tesoro’s
commitment to continually improve its fleet and be a leader in the
safe transportation of crude oil-by-rail.
“These new rails cars, which were designed well in advance of
federal regulations, showcase Tesoro’s commitment to safe crude
oil-by-rail transportation,” said CJ Warner, Tesoro Executive Vice
President of Strategy and Business Development. “Forward thinking
and actions toward the continual improvement of crude oil-by-rail
are two reasons why Savage and Tesoro have an exemplary history of
safe handling and transport of crude oil.”
The polling results, from a survey conducted by Portland-based
DHM Research this summer, reaffirm previous polling indicating that
68 percent of registered voters in Clark County support the
development of the Vancouver Energy terminal. The results are
consistent with findings from a similar DHM survey of registered
voters in 2014.
“The results confirm Clark County residents continue to support
Vancouver Energy for the great jobs and economic value it will
create,” Warner said. The results also show that 70 percent of
Clark County voters think the U.S. should be developing its energy
reserves to make the nation more energy independent.
“The mid-continent crude oil that will come to Vancouver Energy
by rail is important for our country’s energy future,” said Nathan
Savage, Senior Vice President and Group Leader of Savage’s Oil
& Gas Solutions Group. “It can reduce foreign oil imports to
the West Coast by 30 percent and improve our balance of trade and
national security. Safely transporting, refining and using our
resources as our country transitions to alternative fuel sources
over the next several decades is a smart use of petroleum as we
bridge to our energy future.”
About Tesoro Corporation
Tesoro Corporation, a Fortune 100 company, is an independent
refiner and marketer of petroleum products. Tesoro, through its
subsidiaries, operates six refineries in the western United States
with a combined capacity of over 850,000 barrels per day and
ownership in a logistics business which includes a 36 percent
interest in Tesoro Logistics LP (NYSE:TLLP) and ownership of its
general partner. Tesoro's retail-marketing system includes over
2,200 retail stations under the ARCO®, Shell®, Exxon®, Mobil®, USA
Gasoline™ and Tesoro® brands.
About Savage
Founded in 1946, Savage is a privately held global leader in the
creation and delivery of integrated services and systems designed
to meet the unique challenges in each customer’s supply chain. With
3,500 team members in more than 200 locations in North America and
internationally, Savage supports a wide variety of customers in the
production, manufacturing and distribution of energy resources and
other essential commodities. The company offers capabilities that
span rail, truck and marine transport, terminal and facility
operation and design, and related services. For more information,
visit www.savageservices.com.
This press release contains certain statements that are
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 concerning the expected benefits and
performance of Tesoro’s new DOT120 rail cars and the expected
effectiveness of safety features. For more information concerning
factors that could affect these statements see our annual report on
Form 10-K and quarterly reports on Form 10-Q, filed with the
Securities and Exchange Commission. We undertake no obligation to
publicly release the result of any revisions to any such
forward-looking statements that may be made to reflect events or
circumstances that occur, or which we become aware of, after the
date hereof.
Note to editors:
A fact sheet on the features of the enhanced DOT 120 rail car is
available at www.tsocorp.com/TesoroDOT120.
An executive summary of the Clark County polling results is
available at www.VancouverEnergyUSA.com.
CONTACT:
Media: Tesoro Media Relations, media@tsocorp.com, (210) 626-7702
Investors: Sam Ramraj, Vice President, Investor Relations, (210) 626-4757
Andeavor (NYSE:ANDV)
Historical Stock Chart
From Apr 2024 to May 2024
Andeavor (NYSE:ANDV)
Historical Stock Chart
From May 2023 to May 2024