In 2017, the oil refiner and marketer Western Refining was acquired by Tesoro Corporation, who is now known as Andeavor. The acquisition was for an all-cash purchase, valued at approximately $4. 1 billion.
Tesoro also assumed Western Refining’s debt, and the total value of the transaction was approximately $6. 4 billion when announced. Andeavor is now one of the largest refiners in the United States, with 18 refineries, approximately 3,000 outlets, 1,900 convenience stores, and a logistics network spanning the western two-thirds of the United States, and it continues to operate under the Tesoro and Western Refining brands.
The acquisition of Western Refining made Tesoro the largest independent refiner in the country. This was an important purchase, as it allowed Tesoro to increase its presence in the markets, and the combination of Tesoro and Western Refining’s operations and assets, particularly in Arizona and New Mexico, allowed Tesoro to improve its access to crude oil markets across the country, making the acquisition beneficial to both parties.
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Who bought Tesoro?
In 2017, Marathon Petroleum Corporation (MPC) announced it had reached a definitive agreement with Tesoro Corporation to acquire all outstanding interests in Tesoro in a cash and stock transaction valued at approximately $23.
3 billion. The transaction included the assumption of approximately $4. 4 billion of Tesoro debt and the repayment of Tesoro’s outstanding debt, which included the repurchase of Tesoro’s 6. 5% notes at a discount to their face value.
Following the close of the transaction in August 2017, MPC became the nation’s largest refiner and marketer of petroleum products operating 16 refineries with a combined capacity of approximately 3 million barrels per day across the United States.
Furthermore, MPC became the largest convenience store operator in the U. S. with more than 6,800 branded retail locations across the U. S. under the Marathon, Speedway, and Tesoro brands.
How many employees does Western Refining have?
Western Refining has approximately 4,000 employees as of 2019. The company has experienced significant growth in the past few years and intends to hire more individuals to meet their expanding workforce needs.
Western Refining is headquartered in El Paso, Texas, but has a presence in multiple states and locations, including New Mexico, Arizona, Utah, and Minnesota. In 2018, the company generated approximately 800 new jobs, and the El Paso location has added 600 new positions since 2014.
In addition to direct, full-time employees, Western Refining employs approximately 1,500 contractors.
What happened to Tesoro gas stations?
Tesoro gas stations can still be found throughout the United States, though the company itself has rebranded and changed names multiple times over the years. Starting out as a company called The Certified Oil Company, Tesoro was founded in 1968 by George Hansen and two other partners.
In 1996, the company was acquired by the Western Refining Company and changed its name to Tesoro Petroleum Corporation. After several years of rapid expansion, the company changed its name to Tesoro Corporation in 2017 and began to operate under the name Tesoro fueling success.
Tesoro gas stations are known for their signature cleanliness and friendly service, offering a variety of products and services that satisfy customers’ needs. Over the years, Tesoro has also developed different loyalty programs as well as additional services for convenience, such as car washes, lube and oil services, and propane tank rentals.
They have also launched the Fuel Rewards Program which gives customers rewards and savings when they purchase fuel. Lastly, they offer a rewards credit card called the Tesoro Rewards Visa Card which gives even more discounts.
Who is the largest refining company in the world?
The largest refining company in the world is Saudi Aramco, the Saudi Arabian national oil company. Saudi Aramco is one of the world’s largest companies with a total asset value of roughly 2. 2 trillion dollars.
In 2018, Saudi Aramco accounted for 13% of global oil production, producing about 11. 4 million barrels of oil per day. As of 2019, Saudi Aramco is the larges publicly traded company in the world by total revenue, with profits of $110 billion in 2019.
Their chief refining centers are located in Saudi Arabia, with major refining operations around the world, including the US, Europe and Asia. Saudi Aramco is a major player in the global refining industry and holds around 17% of global refining capacity.
In 2020, Saudi Aramco will become the undisputed leader in refining for the first time after it took full ownership of the Saudi refining joint venture with Shell.
What is the largest refinery in Louisiana?
The largest refinery in Louisiana is located in Convent and owned by Phillips 66. It is the second largest refinery in the United States capable of refining up to 325,000 barrels of crude oil per day.
The refinery manufactures petrol, diesel, jet fuel, lubricants and other products from crude oil. Additionally, it produces petrochemicals such as ethylene, propylene and sulfur. The Convent Refinery also provides energy to power nearby towns and is the largest employer in the Parish of St.
James. Its operational history dates back over 75 years, making it one of the oldest refineries in the state.
Who bought Husky refinery in Lima Ohio?
Husky Lima Refinery was sold in 2017 to the company PBF Energy. PBF Energy is a leading independent petroleum refining and supply company based in Parsippany, New Jersey. The company was founded by William Fisher, Paul Gaffney, and Thomas O’Malley.
They specialize in the purchase and operation of refining assets in the US and Canada. The purchase of Husky Lima Refinery included approximately 425 acres of land and processes approximately 95,000 barrels of crude oil per calendar day.
The purchase also included related pipelines and other assets. The acquisition of Husky Lima Refinery will allow PBF Energy to expand its refinery operations to the Great Lakes and Midwestern regions of the United States.
What do refining companies do?
Refining companies take raw natural materials and refine them into valuable products. This kind of refining involves transforming the raw material into a more usable form, often through a combination of physical, chemical and thermal processing steps.
Refining can range from the purification of crude oil into various fuels like gasoline and diesel, to the production of metals like gold and aluminum. Generally, these companies provide products that are essential to everyday life, such as the gasoline that powers cars and the steel used to build bridges, homes and office buildings.
Refining companies may also be involved in producing petrochemicals, which are used as raw materials in the creation of plastics and other products. Refining involves a lot of research, testing and investment in state-of-the-art technology, safety, and management systems to ensure that all products meet the highest quality standards.
How many refining companies are there?
The exact number of refining companies varies from region to region, and depends on factors such as the availability of raw materials and the industry or region in which the refiner operates. According to the U.
S. Energy Information Administration, as of January 2019, there were 148 operating refiners in the United States alone, while the European Petroleum Industry Association reported that there were 33 refineries across the European Union in 2018.
In addition, there are dozens of other refiners operating in Asia, Africa, the Middle East and other regions of the world. As such, it is difficult to offer a precise number for the total number of world-wide refiners, however it is safe to say that there are hundreds of them operating in different parts of the globe.
Who bought Shell Deer Park refinery?
In March 2021, Royal Dutch Shell PLC announced that it had sold its Shell Deer Park refinery in Deer Park, Texas, to Silverpeak Oil & Refining LLC, a subsidiary of Silverpeak Acquisition Corp. , for an undisclosed amount.
Silverpeak Oil & Refining LLC is a privately held, energy-focused company dedicated to the acquisition and development of upstream and downstream energy assets. The sale was part of Shell’s wider asset divestment program.
After the acquisition, Shell will still have more than a dozen U. S. refineries located in Port Arthur, Texas; Geismar, Louisiana; and Montreal, Canada, as well as its joint venture in Anacortes, Washington.
This sale follows Shell’s recent decisions to exit the oil and gas industry in Scotland and Indonesia.
Who owns the refinery in Cheyenne Wyoming?
The HollyFrontier Corporation owns the refinery in Cheyenne Wyoming. HollyFrontier is an independent petroleum refinery and marketing company based in Dallas, Texas. They are one of the largest petroleum refiners in the United States and process over 340,000 barrels of crude oil a day.
Founded in 1947, HollyFrontier currently operates five refineries in the United States and Canada. The refinery in Cheyenne Wyoming is the largest of its kind in the region and is one of the five refineries owned and operated by the HollyFrontier Corporation.
The refinery is equipped with advanced technology and allows the company to process a large number of hydrocarbons, such as gasoline, diesel, and jet fuel. Additionally, the refinery produces numerous products and specialty chemicals for industrial use.
As the largest petroleum refinery in the Wyoming region, the Cheyenne refinery is an important part of the local economy, providing job opportunities and economic growth.
