Home / Knowledge / News / Textiles / Tesoro to initiate petrochemical feedstock project
Tesoro to initiate petrochemical feedstock project
22
Jul '14
Tesoro Corporation announced plans to produce petrochemical feedstock in its U.S. West Coast refining system.  The Company intends to gather intermediate feedstock, primarily reformate, from its West Coast refining system for xylene extraction at Anacortes, Washington.  
 
The initial investment, estimated to be around $400 million, is designed to recover up to 15,000 barrels per day of mixed xylene.  The mixed xylene will mainly be exported to Asia and is used to make polyester fibers and films for clothing, food packaging and beverage containers.
 
The global xylene market is growing about 5% to 7% annually, primarily driven by demand in Asia.  Tesoro is well positioned as a supplier based on existing logistics and operating cost advantages.  "This attractive diversification of Tesoro's product mix supports our goals of enhancing our gross margin and investing in high return capital projects", said Greg Goff, Tesoro's President and Chief Executive Officer. 
 
The project is expected to generate competitive returns similar to other strategic capital projects delivered by Tesoro in recent years.  Startup of the new facilities is expected to be in 2017, subject to permitting and the approval process.  A final investment decision is expected by year-end 2014.
 
Tesoro Corporation, a Fortune 100 company, is an independent refiner and marketer of petroleum products. Tesoro, through its subsidiaries, operates six refineries in the western United States with a combined capacity of over 850,000 barrels per day and ownership in a logistics business which include a 35% interest in Tesoro Logistics LP and ownership of its general partner. Tesoro's retail-marketing system includes over 2,200 retail stations under the ARCO, Shell, Exxon, Mobil,USA Gasoline and Tesoro brands.
 

Tesoro Corporation


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search