Tesoro closes Alaska logistics acquisition

Tesoro Corp., through affiliates, has closed its acquisition of wholesale marketing and logistics properties in Anchorage and Fairbanks, Alas., from Flint Hills Resources.

Tesoro Corp., through affiliates, has closed its acquisition of wholesale marketing and logistics properties in Anchorage and Fairbanks, Alas., from Flint Hills Resources (OGJ Online, Nov. 24, 2015).

Tesoro Alaska Co. LLC and Tesoro Alaska Terminals LLC acquire an Anchorage terminal with 580,000 bbl of storage capacity, a truck rack, and rail-loading capability; a Fairbanks airport terminal with 22,500 bbl of jet-fuel storage capacity and a truck rack; and a terminalling agreement at the seller’s North Pole terminal providing rail offload capabilities.

Tesoro agreed with the state attorney general to offer for divestment an interest of about 25% in its Tesoro Logistics Anchorage product terminal.

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