Tesoro delays California refinery integration to mid-2017

Wed Dec 9, 2015 9:16am EST
 
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HOUSTON (Reuters) - Independent refiner Tesoro Corp (TSO.N: Quote) has pushed the completion of integrating its California refineries to mid-2017 from early that year, according to a company presentation.

The expected cost of the project to combine the Los Angeles-area refineries is $460 million, up from a range of $400 million to $425 million.

The company also said it expects a $200 million railport project in Washington state to be finished in late 2017. The project to move up to 360,000 barrels per day via rail to the Port of Vancouver would be the biggest oil-by-rail project in the United States.

(Reporting By Kristen Hays)

 
A view of the Tesoro refinery in Martinez, California, February 2, 2015.  REUTERS/Robert Galbraith