Tesoro Corp (TSO) Key Developments | Reuters.com
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Tesoro Corp (TSO)

TSO on New York Consolidated

27 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Tesoro Corp says fire doused at Carson, Calif. refinery - Reuters News
Monday, 14 Mar 2016 02:57pm EDT 

Tesoro Corp:Esoro Corp TSO.N on Monday said a fire was put out at its 257,300 barrel-per-day refinery in Carson Los Angeles, California. - RTRS.No injuries were reported and the incident is under control, the company said, adding that emergency responders are on site. The company did not identify the units involved in the incident.  Full Article

Tesoro Corp to pay U.S. West Coast refinery workers $8 mln - NLRB - Reuters
Friday, 5 Feb 2016 01:22pm EST 

Tesoro Corp:Tesoro Corp has agreed to pay $8.08 million to 769 United Steelworkers union members at refineries in California and Washington state who were denied bonuses while on strike in 2015, the U.S. National Labor Relations Board said on Friday - RTRS.The bonuses were awarded on March 6, 2015 to non-striking employees for the previous year, according to the NLRB statement. Tesoro withheld the bonuses from the striking workers, contending it was in accordance with an agreement between the union and the company - RTRS.Complaints were filed with the NLRB by workers at the company's Carson, California, and Anacortes, Washington, refineries alleging failure to pay the bonuses was done in retaliation for the strike and an unlawful modification of the agreement, the NLRB said - RTRS."After the NLRB issued complaint in both cases, parties reached this settlement which will provide workers with 100 percent of the bonuses that they were eligible for under their contract," the board said. - RTRS.Under the settlement agreement, Tesoro admits no violation of the U.S. National Labor Relations Act, the NLRB said - RTRS.  Full Article

Tesoro to acquire strategic logistics assets in Bakken
Tuesday, 8 Dec 2015 07:00am EST 

Tesoro Corp:Says it has agreed to acquire Great Northern Midstream LLC.Transaction is expected to close in the first quarter of 2016.  Full Article

Tesoro Corp to buy Flint hills' marketing and logistics assets
Monday, 23 Nov 2015 04:05pm EST 

Tesoro Corp:Tesoro to acquire Flint hills resources' marketing and logistics assets in Alaska.Through affiliate Tesoro Alaska, co agreed to buy Flint hills resources' wholesale marketing and logistics assets in Anchorage and fairbanks.Says transaction is expected to close within 60 days.Says former fhr north pole refinery is not part of this acquisition.  Full Article

Tesoro Corp reaches agreement to sell Los Angeles Storage and Pipeline Assets to Tesoro Logistics
Tuesday, 10 Nov 2015 04:35pm EST 

Tesoro Corp:Says Co and Tesoro Logistics LP announced that subsidiaries of Tesoro have agreed upon terms for the sale of crude oil and refined product storage and pipeline assets in Los Angeles, California to TLLP for a total consideration of $500 million.Acquisition price of $500 million will include cash of approximately $250 million and the issuance of common and general partner units to Tesoro, valued at approximately $250 million.  Full Article

Tesoro Corp announces quarterly cash dividend
Thursday, 29 Oct 2015 04:07pm EDT 

Tesoro Corp:Declared a dividend of $0.50 per share on common stock.Payable on December 15, 2015, to shareholders of record as of the close of business November 30, 2015.  Full Article

Tesoro Corp - Royal Dutch Shell PLC shuts San Pablo Bay pipeline, confirms small crude spill in California - Reuters
Wednesday, 16 Sep 2015 08:00pm EDT 

Tesoro Corp:Shell Pipeline Company said on Thursday it shut its San Pablo Bay pipeline system in Tracy, California after a spill of about 500 barrels of crude oil was discovered from a segment of the line - Reuters.The crude pipeline was shut for an investigation after low suction and increased flow rate was observed on Wednesday, the company said. It did not specify the capacity of the pipeline - Reuters.A release was confirmed from a segment of the pipe around half a mile (0.8 km) away from the Tracy pump station, the company said, noting there were no immediate waterways, residences or businesses in the area - Reuters.The company did not confirm if supply to any refineries in the area was affected due to the shutdown - Reuters.The 24-inch (61-cm) pipeline runs from Coalinga, California to refineries in the Bay Area, the company said. Its maximum capacity is 200,000 bp - Reuters.Legal documents show that refineries operated by Royal Dutch Shell RDSa.L and Tesoro Corp TSO.N in Martinez, and Valero Energy Corp VLO.N in Benicia receive crude shipped from Chevron Corp CVX.N production operations near Bakersfield through the pipeline - Reuters.  Full Article

Tesoro Corp increases quarterly cash dividend
Wednesday, 5 Aug 2015 04:41pm EDT 

Tesoro Corp:Increased the quarterly cash dividend by approximately 18% to $0.50 per share.Payable on Sept. 14, to all holders of record as of Aug. 28.  Full Article

Tesoro Corp affirms Q2, FY 2015 EBITDA guidance
Wednesday, 22 Apr 2015 08:11pm EDT 

Tesoro Corp:Says that it still expect to achieve its FY 2015 plan, which is consistent with consensus EBITDA estimates of about $800 million for Q2 2015 and $2.6 billion for FY 2015.  Full Article

Tesoro Corp begins restart of martinez refinery
Friday, 27 Mar 2015 06:18pm EDT 

Tesoro Corp:Says the Martinez, California refinery has begun the restart process.Martinez, California refinery was in the final stages of major turnaround maintenance activity when the United Steelworkers Union (USW) issued a strike notice on Feb. 01.Safest option at that time was to safely idle the remaining operating units and transition to operating the facility as a terminal.Tesoro has also reached agreements with the local USW at its Carson, California and Anacortes, Washington refineries and employees at those refineries are returning to work.Local unions at the Mandan, North Dakota and Salt Lake City, Utah refineries are expected to vote on their respective contracts over the next few days.  Full Article


Oregon derailment likely to reignite oil-by-rail safety concerns

A Union Pacific train carrying crude oil derailed and burst into flames along Oregon's scenic Columbia River gorge on Friday in the first major rail accident involving crude in a year. | Video