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Tesoro Corporation (TSO)

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  • Dec. 12, 2014, 4:38 PM
  • Oct. 20, 2014, 7:39 AM
  • Dec. 11, 2012, 5:27 PM
    Tesoro Logistics (TLLP) agrees to acquire Chevron's (CVX) Northwest Products pipeline system for $400M. The pipeline receives product from five refineries and one pipeline in the Salt Lake City, Utah, area and is the primary transportation option to several other northwest U.S. areas. System delivery volumes averaged ~84K bbl/day in 2011.
  • Oct. 11, 2012, 3:58 PM
    Increasing scrutiny may force Tesoro (TSO -0.2%) to sell its 97K bbl/day Los Angeles-area refinery to overcome any government antitrust opposition to the purchase of BP's 266K bbl/day Carson refinery, Bloomberg reports. If TSO sells the Wilmington plant to keep Carson, it would sacrifice plans to integrate the two refineries and cut costs it outlined when the deal was announced.
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  • Oct. 10, 2012, 11:41 AM
    Tesoro's (TSO -4.9%) proposed acquisition of Arco and its Carson refinery for $2.5B faces increasing opposition, LA Times reports, as activists say the deal would reduce competition and raise prices for motorists. The deal is drawing fire, as California's average gasoline price hits a record $4.671/gal., because it would leave 51% of the state's refining capacity with just TSO and Chevron.
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  • Aug. 13, 2012, 7:54 AM
    BP's pain is Tesoro's (TSO) gain, the company agreeing to purchase the oil giant's Carson, CA refinery and ARCO retail operation for about $2.5B. Tesoro (+3.2% premarket) expects the acquisition to be accretive to earnings in each of the first two years of operations. (PR)
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  • Feb. 16, 2012, 5:56 PM
    Carl Icahn says he wants to put CVR Energy’s (CVI) refineries up for sale, and Oppenheimer thinks Marathon Petroleum (MPC) might be the best fit. MPC was sitting on $3B in cash at the end of Q4 and will see its capex fall as it completes large projects later this year. Icahn himself lists MPC along with WNR, HFC, TSO, VLO and COP as potential buyers.
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Company Description
Tesoro Corp is an independent petroleum refiner and marketer in the United States. Its subsidiaries operate through three business segments, transport crude oil and manufacture, transport and sell transportation fuels.