Wednesday, March 6, 2013

Valero to build $30m crude oil terminal

Valero Energy plans to expand its Benicia refinery in northern California, US with the addition of a new crude oil terminal.

The project will cost $30 million (€23 million) and, according to My San Antonio, will feature an off-loading facility and rail access.

The company has submitted an application to the city of Benicia and, if approved, could break ground on the terminal this year with completion expected for 2014.

Valero Energy says the new terminal will help its refinery remain competitive by reducing the amount of foreign crude oil and offsetting it with cheaper North American domestic crude from Canada and the Bakken Shale plays in North Dakota and Montana.

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