BP sells US refinery, Arco retail to Tesoro

Oil   Oil
By The Associated Press on August 13, 2012

LONDON (AP) — Oil company BP says it has agreed to sell its refinery in Carson, California and other West Coast assets to Tesoro Corp.

BP said Monday that Tesoro is paying $2.5 billion cash for the refinery, pipelines, storage terminals and Arco-branded retail outlets in southern California, Arizona and Nevada. BP is also selling the Arco brand rights for northern California, Oregon and Washington and will lease them back from Tesoro.

Tags: 
BP
Tesoro
Arco
Carson
oil refinery
EnergyGuardian is a subscription energy news service. Sign up below to apply for a free 14-day trial. If approved, you will receive an email from us to activate your account and enable access to this Web site and delivery of our enhanced morning, afternoon and breaking news alert emails.

If you have questions, please email sales@packardmedia.com.

To start your free 14-day trial, fill in the form below.

News from Around the World

Renewable Energy

Former A123 Systems wins approval for bankruptcy plan

Source: 
Bloomberg
A court approved a bankruptcy plan for electric-car battery firm B456 Systems Inc., formerly called A123 Systems, Bloomberg reports.
Link
Renewable Energy

US, EU to seek settlements in China solar dumping cases

Source: 
The New York Times

The United States and the European Union plan to negotiate settlements with China for the import of cheaper Chinese solar panels into Western markets, The New York Times reports.

Link
Policy

Moniz to be sworn in Tuesday

Source: 
The Hill
Incoming Energy Secretary Ernest Moniz is scheduled to be sworn in Tuesday, The Hill reports.
Link
Policy

Supreme Court won't hear Alaska climate change damage case

Source: 
Reuters

The Supreme Court declined to hear a case from an Alaskan village arguing it should be allowed to sue energy companies for climate change damages, Reuters reports.

Link
Oil

EPA to publish sulfur-reduction rule for gasoline

Source: 
The Hill
The EPA is set to publish its draft rule to cut sulfur content from gasoline in the Federal Register Tuesday for public comment, The Hill reports.
Link
Environment

NOAA: April 2013 was 13th-warmest recorded

Source: 
Summit County Citizens Voice
The National Oceanic and Atmospheric Administration reported April 2013 ranked the 13th-warmest on record, the Summit County Citizens Voice reports.
Link
Mining

Freeport wins approval for $6.6 billion Plains buyout

Source: 
Bloomberg
Plains Exploration & Production Co. shareholders approved a $6.6 billion takeover plan from Freeport-McMoRan Copper & Gold, Bloomberg reports.
Link
Policy

Business, policy groups call for efficiency bill passage

Source: 
The Hill
Business and policy groups including the Business Roundtable and the Chamber of Commerce called on the Senate to approve the Shaheen-Portman energy efficiency bill, The Hill reports.
Link
Oil

Alaska offers investment in ANWR oil assessment

Source: 
Bloomberg
Alaska Gov. Sean Parnell told the Interior Department his administration is willing to invest up to $50 million in an assessment of oil reserves of the Arctic National Wildlife Refuge, Bloomberg reports.
Link
Policy

Republicans urge EPA to suspend stormwater runoff regulations

Source: 
Senate Environment and Public Works Committee
Republicans on the Senate Environment and Public Works Committee called on the EPA to suspend rulemaking for stormwater runoff until the agency opens the process to small businesses.
Link
  • © 2013 Packard Media Group LLC
  • All Rights Reserved