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North Dakota's Bakken Oil Finally Hits the East Coast

Feb 6, 2013
(Bloomberg)

While some Bakken barrels have started arriving on the East Coast, a whole lot more are on their way in 2013. A number of projects scheduled to finish this year will more than double the amount of Bakken crude that finds its way to the East Coast, from about 300,000 barrels per day to more than 800,000, according to Eric Lee, an oil analyst at Citigroup (C).

One of the first projects came online this week in Delaware. PBF Energy (PBF) announced on Monday that it’s completed a rail terminal that will take delivery of about 110,000 barrels a day of Bakken crude.