Tesoro's (TSO +6%) $2.5B purchase of BP's Carson oil refinery goes against the prevailing wisdom...

|About: Tesoro Corporation (TSO)|By:, SA News Editor

Tesoro's (TSO +6%) $2.5B purchase of BP's Carson oil refinery goes against the prevailing wisdom that says California is a lousy place to be a refiner because of the state’s environmental regulations. The deal brings the number of TSO's California refineries to three and lifts its operations in the state to 60% of its total. TSO says the deal leaves it "well positioned to generate significant operational efficiencies."