East Coast refiners eye Texas oil as North Dakota alternative

25 Apr 2017   Shale Oil, USA

U.S. East Coast refiners are looking to buy increasing volumes of domestic crude oil from the Gulf Coast, two sources said, the latest twist in a trade flow upheaval in the wake of the opening of the Dakota Access pipeline. Major U.S. East Coast refiners profited from railing hundreds of thousands of barrels of discounted Bakken crude to their plants daily from 2013 until 2015. But as more and more pipelines were built in North Dakota, the discount began to disappear, and so did the rail cars. Now, at least two East Coast refiners, Phillips 66 ( PSX.N ) and Delta Air Lines Inc’s ( DAL.N ) subsidiary Monroe Energy, are looking to move more crude […]

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