Seeking Alpha

Tesoro to upgrade rail fleet with newer, safer cars

  • Tesoro (TSO) says it is replacing older cars in its crude-by-rail fleet to consist entirely of newer and safer CPC 1232-compliant rail cars, after evaluating rail car safety features.
  • TSO says it also will make rail car design a part of its commercial considerations with all business partners who may ship crude oil into company-owned facilities.
  • The upgrade comes after several explosive crashes that involved trains moving crude oil; TSO receives up to 50K bbl/day of Bakken crude at its 120K bbl/day refinery in Anacortes, Wash.
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