November 18, 2016
Western Refining, based in El Paso, is being sold to San Antonio-headquartered Tesoro Corp. in a deal valued at $6.4 billion. The deal comes five months after Western acquired Phoenix-area Northern Tier Energy for $1.6 billion.
Tesoro operates seven refineries in the western United States, with a combined capacity of more than 895,000 barrels of oil per day. Western Refining has refineries in El Paso, Gallup, NM and St. Paul Park, MN. Also in Western’s portfolio are retail service stations and convenience stores in Arizona, Colorado, Minnesota, New Mexico, Texas and Wisconsin.
No operational changes were mentioned in both companies’ announcements, though a release for the buy indicted the acquisition would generate $350 million to $435 million in savings within two years.
For comments, questions or concerns, please contact Amy Sorter