U.S. oil refiners as well as producers are frantically looking for ways to reverse a decision by the country’s largest railroad operator, BNSF Railway Co, to curb the use of retrofitted oil tank cars on its railroads as a safety measure after a derailment in Iowa in June.

SERC FP Slide 4Reuters reports that this decision could lead to the removal of several thousand oil tank cars from a crucial railway line and up the lease the rates for new cars substantially. Already, two brokers told Reuters, the lease rate for new oil tank cars is over US$1,000 apiece per month, up from US$400 per month at the end of last year. Read More...

Credit: https://oilprice.com/Latest-Energy-News/World-News/US-Refiners-Scramble-To-Avoid-Railcar-Shortage.html

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