Killajoules

Tesoro Corporation Begins Restart of Martinez Refinery and Updates First Quarter Guidance
Tesoro Corporation (NYSE:TSO) today announced that the Martinez, California refinery has begun the restart process.

Tesoro Corporation Board of Directors Approves Two Projects at the Anacortes Refinery
Tesoro Corporation (NYSE:TSO) today announced that its Board of Directors has approved two complementary projects to enhance clean products production at its Anacortes, Washington refinery. These projects include a $90 million naphtha isomerization project, which is designed to comply with upcoming reduced-sulfur gasoline regulations while simultaneously reducing gasoline production costs, and the previously announced $300 million mixed xylenes project, which upgrades and diversifies the value of the facility's product slate.

CSB Releases Analysis Showing Reason for Release of Sulfuric Acid at Tesoro Refinery in Martinez, California
The U.S. Chemical Safety Board (CSB) today released a technical evaluation report on tubing samples taken from the Tesoro Refinery in Martinez, California, concluding that a sulfuric acid spill on February 12, 2014, resulted from insufficient tightening between a tube and a compression joint at a sulfuric acid sampling station.

Tesoro Corporation Announces New Petrochemical Feedstock Project
Tesoro Corporation (NYSE:TSO) today announced plans to produce petrochemical feedstock in its U.S. West Coast refining system. The Company intends to gather intermediate feedstock, primarily reformate, from its West Coast refining system for xylene extraction at Anacortes, Washington. The initial investment, estimated to be around $400 million, is designed to recover up to 15,000 barrels per day of mixed xylene. The mixed xylene will mainly be exported to Asia and is used to make polyester fibers and films for clothing, food packaging and beverage containers.

Tesoro Announces Close on Sale of Hawaii Operations
Tesoro Corporation (NYSE: TSO) announced today that it has completed the previously announced sale of all of its interests in Tesoro Hawaii, LLC to Hawaii Pacific Energy, LLC for approximately $325 million, which includes net working capital. The transaction includes an earn-out arrangement payable over three years up to $40 million based on consolidated gross margins.

Tesoro Corporation Announces the Sale of the Hawaii Operations
Tesoro Corporation (NYSE: TSO) announced today that it has signed an agreement with a wholly owned subsidiary of Par Petroleum Corporation to sell all of its interest in Tesoro Hawaii, LLC, which operates the 94,000 barrel per day Kapolei refinery, retail stations and associated logistical assets. As part of the agreement, Par Petroleum intends to operate the assets as an integrated refining, logistics and retail system.

Tesoro Corporation Receives FTC Clearance for Purchase of BP's Southern California Refining and Marketing Business
Tesoro Corporation (NYSE:TSO) announced today that the Federal Trade Commission ("FTC") has cleared the Company's planned acquisition of BP's fully integrated Southern California Refining and Marketing business and that Tesoro intends to close the acquisition during the second quarter, subject to customary closing conditions. The clearance from the FTC came without any impacts to the assets or operations in the transaction as announced in August of last year.

Tesoro And Savage Announce Joint Venture To Construct And Operate Crude-By-Rail Unloading And Marine Loading Facility
Tesoro Corporation ("Tesoro") and Savage Companies ("Savage") today announced the formation of a joint venture between Tesoro Refining & Marketing Company LLC (a subsidiary of Tesoro) and Savage to develop and operate a new 120,000 barrel-per-day (bpd) crude-by-rail unloading and marine loading facility at the Port of Vancouver, Wash., subject to approval by regulatory agencies and Port Commissioners.

Tesoro To Convert Hawaii Refinery To An Import, Storage And Distribution Terminal
Tesoro Corporation (NYSE: TSO) today announced that it will cease refining operations at its Kapolei Refinery during April of this year, and begin the process of converting the refinery to an import, storage and distribution terminal. Tesoro Hawaii is committed to maintaining its focus on safe and environmentally sound operations during the shutdown and conversion process.

Tesoro Logistics LP to Acquire Chevron Pipe Line Company's Northwest Products System
Tesoro Corporation (NYSE:TSO) today announced that its affiliate, Tesoro Logistics LP (NYSE:TLLP) ("TLLP" or the "Partnership"), has executed a definitive agreement to purchase Chevron Pipe Line Company's Northwest Products System for $400 million. The transaction is subject to regulatory approval and is expected to close during the first quarter of 2013.