Phillips 66 (PSX) is ordering 2,000 rail cars to transport up to 120K bbl/day of crude from the...

|About: Phillips 66 (PSX)|By:, SA News Editor

Phillips 66 (PSX) is ordering 2,000 rail cars to transport up to 120K bbl/day of crude from the North Dakota oilfields to its refineries on the east and west coasts of the U.S., CEO Greg Garland tells FT. Moving oil by rail is generally more expensive than using a pipeline, but Garland doesn't expect any new pipes built to connect North Dakota to  coastal refineries anytime soon.