Washington refinery finds new owner

Global commodities logistics and trading firm TrailStone Group has acquired US Oil & Refining Co. (USOR), including the 42,000-b/d Tacoma, Wash., refinery, from Astra Transcor Energy NV, a subsidiary of Compagnie Nationale a Portefeuille SA, Belgium.

The acquisition marks TrailStone’s entry into North America’s physical crude oil and refined products markets, the company said.

In addition to the Tacoma refinery, the purchase includes 2.7 million bbl of storage capacity, a fleet of 630 rail cars, and a multiyear storage and 30,000-b/d throughput agreement at a rail terminal in the Bakken shale, according to TrailStone.

TrailStone will also assume ownership of USOR’s Tacoma deepwater terminal, which houses two docks equipped to handle up to 125,000-dwt vessels, as well as loading racks for wholesale clean product and asphalt, the company said.

Other assets included in the sale are three double-hulled barges on long-term charter and a dedicated proprietary jet fuel pipeline to US military installation Joint Base Lewis-McChord.

The USOR executive team—including Robert B. Redd, USOR’s chief executive officer—will remain on board as part of the acquisition to help implement business plans for future growth and profitability, according to TrailStone.

“USOR is extremely well-positioned to capitalize on the rapidly changing dynamics of the North American oil market, and we look forward to working with Bob Redd and his team to build a leading liquids supply and trading franchise at TrailStone,” said John Redpath, TrailStone’s head of oil and agriculture.

Terms for the acquisition of USOR assets were not disclosed.

TrailStone is backed by New York-based Riverstone Holdings LLC, an energy and power-focused private investment firm.

Related Articles

Gazprom Neft advances Moscow refinery revamp

07/23/2015 JSC Gazprom Neft has gained final approval from Russian government regulators to begin construction on its long-planned combined oil refinery unit ...

Contract let for Chinese grassroots petrochemical project

07/23/2015 Ningxia Baota Chemical Fiber Co. Ltd. (NBCF), a subsidiary of privatized Ningxia Baota Petrochemical Group Co. Ltd. (NBPG), has let a contract to H...

Cornyn calls for more US energy exports in wake of Iran deal

07/23/2015 US Senate Majority Whip John Cornyn (R-Tex.) said it would be geopolitically, economically, and strategically absurd for the US to maintain outmode...

UAE easing gasoline, diesel price controls


The United Arab Emirates is moving prices of gasoline and diesel toward deregulation effective Aug. 1.

BC bill advances Pacific Northwest LNG

07/22/2015 The British Columbia legislature has passed a controversial bill enabling the proposed Pacific Northwest LNG export project to advance (OGJ Online,...

Excelerate FSRUs complete LNG transfer at Pakistan terminal

07/22/2015 Excelerate Energy LP, The Woodlands, Tex., reported the completion of the first ship-to-ship (STS) transfer of LNG at the Engro Elengy LNG terminal...

Study looks at gas transmission, storage sites’ methane releases

07/21/2015 A comprehensive study of US natural gas transmission and storage operations found total methane emissions from 2,292 on-site measurements, addition...

Joint venture plans grassroots refinery for North Dakota

07/21/2015 Quantum Energy Inc., Tempe, Ariz., said it will form a joint venture with Native Son Holdings LLC (NSH), The Woodlands, Tex., to build North Dakota...

PDVSA plans late-July restart for Amuay refinery’s FCCU

07/20/2015 Repairs remain under way on the fluid catalytic cracking unit (FCCU) at Petroleos de Venezuela SA’s (PDVSA) 645,000-b/d Amuay refinery in northwest...
White Papers

UAS Integration for Infrastructure: More than Just Flying

Oil and gas companies recognize the benefits that the use of drones or unmanned aerial systems (UAS) c...

Solutions to Financial Distress Resulting from a Weak Oil and Gas Price Environment

The oil and gas industry is in the midst of a prolonged worldwide downturn in commodity prices. While ...
Sponsored by

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by
Available Webcasts

Operating a Sustainable Oil & Gas Supply Chain in North America

When Tue, Oct 20, 2015

Short lead times and unpredictable conditions in the Oil & Gas industry can create costly challenges in supply chains. By implementing a LEAN culture of continuous improvement you can eliminate waste, increase productivity and gain end-to-end visibility leading to a sustainable and well-oiled supply chain.

Please join us for this webcast sponsored by Ryder System, Inc.


On Demand

Leveraging technology to improve safety & reliability

Tue, Sep 22, 2015

Attend this informative webinar to learn more about how to leverage technology to meet the new OSHA standards and protect your employees from the hazards of arc flash explosions.


The Resilient Oilfield in the Internet of Things World

Tue, Sep 22, 2015

As we hear about the hype surrounding the Internet of Things, the oil and gas industry is questioning what is different than what is already being done. What is new?  Using sensors and connecting devices is nothing new to our mode of business and in many ways the industry exemplifies many principles of an industrial internet of things. How does the Internet of Things impact the oil and gas industry?

Prolific instrumentation and automation digitized the industry and has changed the approach to business models calling for a systems led approach.  Resilient Systems have the ability to adapt to changing circumstances while maintaining their central purpose.  A resilient system, such as Maximo, allows an asset intensive organization to leverage connected devices by merging real-time asset information with other critical asset information and using that information to create a more agile organization.  

Join this webcast, sponsored by IBM, to learn how about Internet of Things capabilities and resilient systems are impacting the landscape of the oil and gas industry.


Taking the Headache out of Fuel License and Exemption Certificates: How to Ensure Compliance

Tue, Aug 25, 2015

This webinar, brought to you by Avalara, will detail the challenges of tax document management, as well as recommend solutions for fuel suppliers. You will learn:

-    Why it’s critical to track business partner licenses and exemption documents
-    The four key business challenges of ensuring tax compliance through document management
-    Best practice business processes to minimize exposure to tax errors


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected