The pipeline was built more than 25 years ago to transport crude oil from the Alaskan Oil Fields to the North American East Coast. Petroterminal de Panamá transported over 2.7 billion barrels of crude oil from the Pacific to the Atlantic Coast of the Republic of Panama at peak rates exceeding 800,000 barrels per day from 1982 to 1996.
Jay Bernstein, son of the founder of PTP, Harold Bernstein, and CEO of NIC Holding Corp., known to the trade as Northville, the operating partner of PTP, said, "I am very proud of the enormous accomplishment that PTP has achieved by completing the pipeline reversal phase of the project on schedule. I am also very appreciative of Tesoro and the visionary commitment that its senior management has made to this enterprise which forges a new strategic and more economical 'bridge' for the safe and efficient flow of crude oil from the Atlantic Basin to the US West Coast and the Far East."
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