Printer Friendly

COASTAL PURCHASES CANADIAN PETROLEUM TERMINAL

 COASTAL PURCHASES CANADIAN PETROLEUM TERMINAL
 HOUSTON, Dec. 4 /PRNewswire/ -- Coastal Canada Energy Ltd., a


subsidiary of The Coastal Corporation (NYSE: CGP), has made its initial entry into the Canadian market with the purchase of an Ottawa, Ontario, petroleum terminal. Financial terms of the sale were not disclosed.
 Coastal Canada Energy will market three grades of gasoline, diesel oil, furnace oil and stove oil to wholesale, commercial and consumer accounts in the greater Ottawa region.
 The terminal contains multiple-lane top and bottom loading truck racks. The facility has storage capacity of 234,000 barrels in eight primary tanks and is serviced by the Trans Northern Pipeline.
 "Coastal is a major United States supplier of petroleum products, natural gas and coal, and brings over 35 years of petroleum refining and marketing experience to the Canadian market place," said Coastal's president and chief executive officer James R. Paul. "This acquisition is part of our strategy to expand company operations into promising market areas."
 The Coastal Corporation is a Houston-based energy holding company. Coastal has consolidated assets of $9 billion and subsidiary operations in natural gas transmission and storage, refining and marketing, oil and gas exploration and production, coal, chemicals, trucking and independent power production.
 -0- 12/4/91
 /CONTACT: Barbara Johnson of The Coastal Corporation, 713-877-3293, or 609-853-3160
 (CGP) CO: Coastal Canada Energy Ltd.; Coastal Corporation ST: Texas IN: OIL SU: TNM


SH -- NY047 -- 9167 12/04/91 11:44 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 4, 1991
Words:238
Previous Article:/FIRST AND FINAL ADD -- NY026 -- TABULAR MATERIALS
Next Article:MOODY'S UPGRADES RATING FOR ALBERT EINSTEIN MEDICAL CENTER TO A FROM BAA1
Topics:


Related Articles
TOSCO ENTERS LETTER OF INTENT FOR PURCHASE OF RIVERHEAD TERMINAL FROM NORTHVILLE INDUSTRIES
DIAMOND SHAMROCK TO ACQUIRE 15 VICKERS STORES IN NEW MEXICO
LYKES INCREASES STAKE IN COASTAL PETROLEUM
TESORO ACQUIRES KPL PIPELINE AND MARINE TERMINAL OPERATIONS
COASTAL TO EXPAND PRODUCTION CAPABILITIES WITH MAJOR ACQUISITION IN BOB WEST FIELD
MARITRANS PURCHASES MOBIL OIL'S BALTIMORE PETROLEUM TERMINAL
COASTAL BUYS EXXON ASSETS IN ARUBA
COASTAL JOINT VENTURE WINS BID TO ACQUIRE ESTONIA'S ESOIL
Coastal Closes Sale of Western Coal Subsidiaries to Atlantic Richfield Company/ITOCHU Corporation

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters