An explosion and fire Friday morning at a Tesoro Corp. killed three employees and left four hospitalized. Tesoro Corp trades on the “New York Stock Exchange” under the stock symbol “TSO”. For More information regarding “TSO” make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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An explosion and fire Friday morning at a Tesoro Corp. (NYSE:TSO) refinery north of Seattle killed three employees and left four hospitalized, the company said.
The fire, at Tesoro's 120,000-barrel-a-day refinery in Anacortes, Wash., about 70 miles north of Seattle, started about 12:30 a.m. local time and was extinguished about an hour and a half later. The fire broke out at a unit that produces naphtha, a major gasoline component, while maintenance work was under way, the company said, adding the affected units have been shut down and stabilized.
It is too early to tell the exact impact this accident will have on local fuel supplies. Mr. McDarment said one area of the plant was shut down due to the blaze.
Tesoro Chief Financial Officer Greg Wright told Dow Jones Newswires that other units, including the main crude-processing unit, were still operating, "but we will have to evaluate when things settle down whether we continue to operate those units and consider going to an alternate plan."
In the meantime, some gasoline production will likely continue, Mr. Wright said, adding the company would continue to supply the market in any case, "either by buying product on the open market or from our West Coast refineries."
Tesoro has seven refineries in the western U.S. with a combined capacity of approximately 665,000 barrels a day.
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