ST Services acquires ExxonMobil Oregon terminal

Dec 28, 2001 12:00 PM

ST Services, Dallas, Texas, a subsidiary of Kaneb Pipe Line Partners, has acquired an ExxonMobil terminal in Portland, Oregon.

The terminal, which has approximately 800,000 barrels of tankage, is located on the Willamette River and is accessible by barges, tankers, trucks, rail, and pipeline.

"We are pleased with the acquisition of this terminal, which is adjacent to our existing Portland terminal," said Edward D Doherty, chairman and chief executive officer of Kaneb Pipe Line Company LLC, the partnership's general partner. "The combination of the two terminals will allow us to benefit from cost savings while significantly expanding our tankage in the area almost 250%. It also enhances our ability to serve our existing customers in the Portland area while adding some new customers to our base."