BP (NYSE:BP) to Sell Refinery to Tesoro (NYSE:TSO)

By International Business Times,  August 13, 2012, 09:10:01 AM EDT

BP ( BP ) to Sell Refinery to Tesoro ( TSO ) for $2.5-B

Oil giant BP PLC Monday said it has reached agreement to sell its Carson, Calif., refinery and related logistics and marketing assets to Tesoro Corp. for $2.5-B in cash.

The deal will allow BP to focus operations and investments exclusively on its 3 northern US refineries, which are Crude Oil feedstock advantaged, and their large and important marketing businesses.

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: BP, TSO



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