Boston, MA 02/07/2014 (wallstreetpr) – Tesoro Corporation (NYSE:TSO) has reported that it will upgrade its fleet of rail cars. These are expected to compliant with higher compliance requirements in terms of safety and will be entirely new cars.
Compliant cars will be safer
Tesoro Corporation (NYSE:TSO) pitch with the latest cars it will deploy on its crude oil rail fleet is that they will be CPC 1232-compliant. This means the entire fleet will be of the newer DOT-111 design cars and will included shields which are of the reinforced variety.
Tesoro Corporation(NYSE:TSO) will later include these safety and protective measures – as part of the car design features – for all its partners in the commercial shipping of crude oil, especially when these are to arrive at Tesoro. Therefore, the line-up of refineries – in Anacortes and the yet to begin Savage Energy Distribution Terminal located at Vancouver.
Tesoro Corporation (NYSE:TSO) is a refiner as well as marketer of variety of petroleum products and is an independent operator. Its focus across the United States is achieved through its various subsidiary operators, handling over 6 refineries in the Western parts of United States. The average capacity of all of these refineries currently stands at 850,000 barrels per day. On the marketing front, Tesoro has over 2,200 retail stations operation under most the famous brands.
Tesoro Corporation (NYSE:TSO) claims that over 90% of its fleet already has the safety features incorporated. The newer design features that the regulatory bodies of the rail industry expect are already acceded to by Tesoro. The company also claims that it will convert the remaining 10 % of the fleet to these newer fleet prices by the middle of 2014. The company’s Senior Vice President, Keith Casey claims that they are currently ‘proactive’ on these changes and will look forward to implementing the safety standards because their stakeholders expect the company to be compliant with the regulations and safety standards.