South Portland co. to import Canadian crude
A South Portland company has won city approval to import crude oil from Canada and use its marine terminal to send the oil via tanker to refineries in the United States.
The South Portland Planning Board this week unanimously approved Portland Pipe Line Corp.'s $10 million project, according to the Portland Press Herald. The company, a subsidiary of Montreal-based Montreal Pipe Line Ltd., currently unloads oil from tankers in South Portland and pumps 350,000 barrels a day through two underground pipes to Montreal, but the company has proposed reversing the flow of one of those pipes and pumping crude oil from Alberta to be shipped out of South Portland, the paper reported.
Initially, the company's plan was to begin importing crude oil from Canada next year, but changes in the market conditions have forced the company to hold off on the project until 2011, the paper reported.
Go to the article from the Portland Press Herald >>
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