Tesoro Corporation (TSO) recently inked three-year transportation and storage agreement with Mexico's Pemex to cash in on the growing demand of refined fuels in the country.
BP is considering spinning off its 3,500 mile pipeline business in the US into a master limited partnership by the end of this year and file for its IPO.
Американская Tesoro выиграла первый аукцион на право применять принадлежащие мексиканской компании нефтепродуктопроводы и хранилища в штатах Сонора и Нижняя Калифорния на севере страны. Срок действия договора – три года.
Supermajor Royal Dutch Shell (RDS.A) as well as producers Halcon Resources (HK) and Abraxas Petroleum (AXAS) announced separate deals to offload major chunk of non-core holdings.
Oil prices fell to 10-month lows after government figures showed an increase in U.S. production to highest levels since Aug 2015.
He counts Lady Gaga among his fans and is taking over the avant-garde fashion world. We caught up with the enigmatic Tesoro to ask him 10 things people should know about him.
Tesoro (TSO) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
A state appeals judge has rejected a $2.4 million dollar fine for an oil company after a refinery explosion killed seven workers. State officials imposed the fine on Texas company Tesoro in October 2010, over a blast in Anacortes, Washington, that occurred April that year. It was the largest workplace-safety fine in Washington state history, local NPR member station KUOW reports. But late last week, Judge Mark Jaffe of the Washington State Board of Industrial Insurance Appeals overturned the fine, saying the state had not shown that the deadly explosion was Tesoro’s fault. The company had been appealing the fine for years — though it did pay millions of dollars to the families of the victims. The local news website, GoSkagit.com, reports that Jaffe’s ruling must still be approved by the board. The explosion occurred at the Tesoro’s Anacortes refinery when a heat exchanger ruptured. The rupture released extremely hot hydrogen and naphtha, which ignited. The ensuing explosion was so intense that many people felt a shock wave across the nearby Fidalgo Bay, and a huge fireball shot into the sky over the refinery, the Seattle Times reported at the time. (The outlet’s report was published before the final death toll.) Seven workers — Daniel Aldridge, Matt Bowen, Matt Gumbel, Darrin Hoines, Lew Janz, Kathryn Powell and Donna Van Dreumel — died from injuries sustained in the blast, according to KUOW. The state’s Department of Labor and Industries accused Tesoro of dozens of violations that contributed to the explosion, and these alleged violations led to officials handing down the $2.4 million fine. “Our position has been that had Tesoro conducted the appropriate and required testing, they would have found the cracking that led to the rupture,” department spokesman Hector Castro told Reuters in 2011. But Judge Jaffe wrote in his ruling on Thursday that the state was “unable to really articulate what Tesoro did or did not do to cause the explosion.” The Washington Department of Labor and Industries, however, is not the only group that has blamed the company for the disaster. The U.S. Chemical Safety Board said in 2011 that Tesoro inadequately maintained the heat exchanger that exploded, Reuters reported at the time. The CSB released its final report on the catastrophe in 2014, citing a “substandard safety culture at Tesoro, which led to a complacent attitude toward flammable leaks and occasional fires over the year.” The company has repeatedly asserted it was not at fault for the explosion and that its heat exchanger maintenance was in line with industry standards and regulations. Tesoro spokesman Matt Gill told GoSkagit.com that the company supported Judge Jaffe’s decision. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
It was a week where oil prices dropped to the lowest close since May 10, while a bearish build created selling pressure on natural gas futures.
Tesoro Corporation (TSO) recently announced the much-awaited completion of $6.4 billion acquisition of Texas-based oil refiner Western Refining Inc.
Американская нефтеперерабатывающая компания Tesoro заявила о завершении сделки по приобретению фирмы Western Refining (WNR) за $5,80 млрд. Tesoro ожидает, что финансовая выгода от данной сделки в общей сложности составит в районе $350-425 млн. Компания также объявила, что реализуемая ею программа капиталовложений позволит нарастить годовую операционную прибыль на $475-575 млн, а также объявила о включении в состав совета директоров еще двух человек, ранее занимавших руководящие посты в Western Refining.