TrailStone enters physical oil markets with W.Coast refinery buy

TrailStone, a start-up commodity merchant backed by private equity firm Riverstone Holdings LLC, has gained entry to the North American physical oil markets with a deal to buy a small refinery and logistics firm in the Pacific Northwest.In its first major deal since launching a year ago, TrailStone paid an undisclosed sum to buy U.S. Oil and Refining Co.’s 42,000 barrel per day refinery in Tacoma, Washington, the company said in a statement Monday.It will also gain 2.7 million barrels of storage capacity, a fleet of 630 rail cars, several barges, and a deepwater terminal along the coast, which is emerging as an important hub for shipping Bakken and Canadian crude.

via TrailStone enters physical oil markets with W.Coast refinery buy | Reuters.

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