July 10, 2017 [OPIS] - Irving Oil, a refiner on the eastern coast of Canada and a fuel marketer in the U.S. Northeast, will be moving its wholesale rack gasoline business to Sprague's terminal in Providence, R.I., later this summer, some retailers told OPIS.
Irving Oil currently supplies wholesale gasoline out of the Motiva/Shell terminal in Providence.
Sources said that that the 1-million-bbl-capacity storage terminal has recently expanded its capabilities to handle gasoline, in addition to distillates. Also, it appears that Sprague is opening up the newly acquired terminal to other companies.
Sprague was the sole tenant at the Providence terminal before it bought it earlier this year.
OPIS reported in January that Sprague bought that Providence terminal from Capital Properties for $23 million.
Up to the sale date, that Providence terminal was only storing and handling distillates. Capital had said last year during the terminal sale process that the Providence terminal was capable of expanding its products portfolio to include gasoline, ethanol and other petroleum liquids.
The terminal has permits to store up to 600,000 bbl of gasoline, leaving about 300,000 bbl for distillates. However, the final products ratio will be customer driven, Capital said then.
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