Tesoro Corp. has completed the purchase of Shell’s 100,000-barrel-per-day Los Angeles refinery and 278 operating stations. All 278 retail
sites will remain Shell branded, but will be supplied by Tesoro.
Tesoro has already assumed operational control of the refinery and has began overseeing responsibilities included the operations of the retail locations last week.
The total purchase price for the transaction was $1.76 billion, which included $213 million for estimated inventories. The company financed the purchase.