- Andeavor (NYSE:ANDV) sees no alternative to its stymied proposal to build a rail-to-marine crude oil terminal that would transfer 11M barrels of oil per month from trains to tankers at the Port of Vancouver, Wash., even though the governor recently approved a state board’s recommendation denying ANDV a permit.
- “We continue to scour all ideas and all that but we don’t have any immediate plans to do anything differently,” CEO Gregory Goff says of the project, for which ANDV took a Q4 $40M asset impairment charge.
- ANDV also says it plans to run its 10 U.S. refineries at as much as 96% of their combined crude oil throughput capacity of 1.1M bbl/day in Q1 2018 after operating at 97% of capacity in Q4 and 95% for all of 2017.
- ANDV's heavy schedule for refinery maintenance will continue into 2019, the company says, in part to prepare for a change in marine fuel formulation to lower sulfur content to 0.5% from 3.5%.
- ANDV fell 2.9% in today's trade following its Q4 earnings report.
- Now read: Andeavor (ANDV) Presents At Wolfe Research 4th Annual Refiners Conference - Slideshow
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