Continental Refining named Sunoco Partners as
crude oil supplier for its 5,500 bpd Somerset refinery in
Kentucky, officials said on Tuesday.
Financial terms were not disclosed.
The relationship marks a major milestone for Continental
because it will eliminate any disruptions in crude supply, the
Continental Refining purchased the then-closed
Somerset refinery in December 2011 and
immediately began updating the process plants
Now reopened, the Continental plant is the only oil refinery within a 170-mile radius,
which results in significantly decreased transportation costs,
the company says.
This contract marks an important step in the
advancement and efficiencies taking place at Continental
Refining Company, said Continental Refining CEO Demetrios Haseotes.
We are very excited about this relationship because
Sunoco Partners Marketing & Terminals LPs substantial
assets and resources provide Continental with a consistent
supply of crude oil to the refinery.
Continental will receive crude oil by truck, rail, pipeline
and barge at the refinery, it said.
The terminal will also provide enhanced logistics for clean
products in south-central Kentucky and northern Tennessee.