Tesoro To Pay $400M For Chevron Northwest Pipeline System

Law360, New York (December 13, 2012, 4:43 PM EST) -- A unit of Texas oil refiner Tesoro Corp. will put up $400 million for a Chevron Pipe Line Co. system that stretches from Utah to the Pacific Northwest, providing a foothold in the western U.S. and a boost in third-party revenue, it said Tuesday.

The package includes a 760-mile oil and gas pipeline that reaches from Utah to Washington, a separate jet fuel pipeline linked to Salt Lake City International Airport and three refined-products terminals spread between Idaho and Washington.

Tesoro will back the buy using...
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