(Source: Reuters, January 25, 2016)
NEW YORK — In 2012, Plains All American bought a shuttered Virginia refinery for $300 million to use as a terminal and storage hub, betting that East Coast refiners would need to look beyond their own rail yards to satisfy their thirst for cut-price inland crude in coming years. Instead, shale production from North Dakota has been shrinking and those refiners have resumed buying imported crude. The 140,000 barrel-per-day rail terminal at Yorktown, Virginia has been sitting idle, according to two sources familiar with its operations.
Full story: Reuters