Oil & Gas Refining and Marketing

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Tesoro Logistics LP Closes acquisition of second portion of West Coast Logistics assets from Tesoro Corp

Tuesday, 30 Sep 2014 04:30pm EDT

Tesoro Corp:Tesoro Corporation (Tesoro) and Tesoro Logistics LP (TLLP) announces that TLLP has closes remaining portion of acquisition of certain terminalling and pipeline assets (West Coast Logistics Assets) owned by Tesoro and certain of its subsidiaries.TLLP acquired Tesoro Alaska Pipeline Company LLC, which owns refined products pipeline located in Alaska, for total cash consideration of $28.6 mln, financed with borrowings under Partnership's revolving credit facility.In connection with closing of transaction, Tesoro and partnership entered into throughput agreement for pipeline, which includes minimum throughput commitment.

Saras SpA says Sarlux reaches preliminary agreement with Versalis for acquisition of business segment

Tuesday, 30 Sep 2014 02:33am EDT

Saras SpA:Sarlux Srl, a subsidiary of the Saras Group, reached a preliminary agreement with Versalis SpA, a company owned by the ENI Group, for the acquisition of a Business Segment made of some processing units and the related personnel of the Versalis plant in Sarroch (Cagliari).The above mentioned processing units are integrated with the production cycle of the Saras Group's refinery.Says the acquisition will strengthen the competitive positioning and the profitability of the Sarroch industrial complex.

TravelCenters of America acquires Iconic Johnson's Corner, Colorado Truck Stop

Friday, 26 Sep 2014 02:02pm EDT

TravelCenters of America LLC:Announces expansion of its network with acquisition and rebranding of newest Petro, located at I-25, Exit 254 (2842 SE Frontage Rd.) in Johnston, Colorado.Says acquisition of this landmark truck stop known as Johnson's Corner raises number of travel centers in TA and Petro Stopping Centers branded chain to 251.

Susser Petroleum Partners LP to acquire Mid-Atlantic Convenience Stores, LLC from Energy Transfer Partners, L.P and to acquire Hawaii-based Aloha Petroleum Ltd

Thursday, 25 Sep 2014 08:30pm EDT

Susser Petroleum Partners LP and Energy Transfer Partners, L.P:Says that it has agreed to acquire Mid-Atlantic Convenience Stores, LLC from ETP in a transaction valued at about $768 million.Says the consideration payable by SUSP will consist of about 4 million newly issued SUSP common units and $556 million of cash.SUSP plans to initially finance the cash portion by utilizing availability under the revolving credit facility, with longer term financing through a combination of debt and equity.Says the transaction is expected to be immediately accretive to distributable cash flow per unit for both SUSP and ETP.SUSP has also signed a definitive agreement to acquire Honolulu, Hawaii-based Aloha Petroleum, Ltd.Aloha Petroleum is the independent gasoline marketer and one of the convenience store operators in Hawaii, with an extensive wholesale fuel distribution network and six fuel storage terminals on the islands.Aloha currently markets through about 100 Shell, Aloha, and Mahalo branded fuel stations throughout the state, about half of which are company operated.The base purchase price for Aloha is about $240 million, subject to a post-closing earn-out, certain closing adjustments, and before transaction costs and expenses.Both transactions are expected to close in the fourth quarter of 2014.

Rubis in talks to purchase Total holding in French Antilles Refinery

Monday, 22 Sep 2014 12:00pm EDT

Rubis SCA:Says it has remitted to Total an irrevocable offer to purchase its 50 pct holding in SARA.Says SARA is a refinery based in Martinique supplying the French Antilles and Guiana.Says it is already 35.5 pct shareholder in SARA.

Forte Oil PLC announces preliminary discussion on possible acquisition of a downstream asset

Sunday, 21 Sep 2014 08:00pm EDT

Forte Oil PLC:Announces that the management of the company has begun initial discussions with a downstream company with the intention to acquire the assets of the said company.

Parkland Fuel Corporation enters agreement to acquire Pioneer Energy

Wednesday, 17 Sep 2014 05:00pm EDT

Parkland Fuel Corporation:Enteres into a definitive agreement to acquire the assets of Pioneer Energy.Subject to satisfaction of closing conditions and closing adjustments, the assets of Pioneer will be purchased for C$378 mln, including C$259 mln in cash, C$119 mln in common shares of Parkland, and assumption of standard operating liabilities.

Western Refining to acquire ConocoPhillips idled Wingate Plant and Associated Assets in Gallup

Wednesday, 17 Sep 2014 05:29am EDT

Western Refining Inc:Enters into an agreement for the acquisition of the 25,000 barrel per day (bpd) idled Wingate Fractionation Plant in Gallup, New Mexico from ConocoPhillips Company.Wingate facility includes rail loading and offloading capabilities and storage facilities in addition to natural gas liquids (NGL) fractionation capability.Transaction is expected to close in early Oct. 2014.Terms of the transaction were not disclosed.

Kingdream Public Ltd Co to sell stake in Taixing-based subsidiary to China Petroleum & Chemical

Tuesday, 16 Sep 2014 08:00pm EDT

Kingdream Public Ltd Co:To sell entire holding stake (a 65 pct) in Taixing-based fine chemical engineering subsidiary to China Petroleum & Chemical, at price of 60.2076 mln yuan.


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