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

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Textiles | On 23rd Jan 2017

LyondellBasel expands Texas plant ethylene capacity

US based producer of petrochemicals and speciality chemicals...

Textiles | On 23rd Jan 2017

China’s cotton imports down 39% in 2016

China’s total cotton imports declined by 39.1 per cent to ...tons in...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search