Tesoro to proceed with purchase of two BP refineries
Tesoro Petroleum Corp. said Thursday the US government has not objected to its pending acquisition of BP PLC's Mandan, ND, and Salt Lake City refineries. The purchase includes various storage, pipeline, distribution, and marketing operations.
By the OGJ Online Staff
HOUSTON, Aug. 30 -- Tesoro Petroleum Corp. said Thursday the it plans to complete its purchase of BP PLC's Mandan, ND, and Salt Lake City refineries next week.
The acquisition was subject to US Department of Justice and Federal Trade Commission antitrust review under the Hart-Scott-Rodino Antitrust Improvement Act of 1976. The review period expired Aug. 29 without a request from either agency for additional information.
The Mandan plant is rated at 58,000-b/d and the Salt Lake City refinery at 53,000 b/d.
After closing, Tesoro will operate five refineries in the western US with a combined capacity of 390,000 b/d, making it the second largest independent refiner and marketer in the region.
Tesoro's marketing system will include more than 600 branded retail stations, of which 160 will be company-owned.