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BP to ship crude along the Trans-Panama Pipeline to the West Coast of the United States

Friday, February 3, 2012

BP has started shipping crude oil westward on the trans-Panama pipeline, the company said.

BP will ship 100,000 barrels a day to Panama’s Pacific Coast port of Charco Azul, where it will be loaded on tankers bound for US West Coast refineries. Crude oil tankers too large to traverse the Panama Canal usually go around Cape Horn.

BP also leased 5.4 million barrels of storage on the Caribbean and Pacific coasts from the pipeline operator, Petroterminal de Panama.

Source: Bloomberg