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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.