Tesoro Corp. has agreed to sell $500 million in oil and refined product storage and pipeline assets in Los Angeles to Tesoro Logistics. The assets include 97 crude oil, feedstock and refined product storage tanks and a 50% interest in a pipeline that supplies jet fuel to the Los Angeles International Airport. The deal is expected to close this week.
Tesoro Logistics is a limited partnership formed by Tesoro Corp. that owns and operates over 3,500 miles of crude oil, refined products and natural gas pipelines and 28 truck and marine terminals, among other midstream assets.
