Pipeline to lose major refinery
Portland Pipe Line will lose one of its largest customers later this year, though the impact on the city's port remains unclear.
One of two Montreal oil refineries that receive oil from South Portland through the underground pipelines plans to close at the end of 2010, the Portland Press Herald reported. Owner Royal Dutch Shell said the refinery, which can process 130,000 barrels of oil a day, no longer fits with its long-term strategy.
Portland Pipe Line operates the pipelines, a tank farm and an unloading terminal on the South Portland waterfront. The company pumps 300,000 to 350,000 barrels a day. David Cyr, treasurer of Portland Pipe Line, told the paper it's too early to assess the impact of the closing.
Portland Pipe Line and its Canadian parent company, Montreal Pipe Line, are considering spending $100 million to reverse the flow of oil through one of the two pipelines, which would allow the company deliver western Canadian crude oil to U.S. refineries.
Go to the article from the Portland Press Herald >>
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