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Oil Refiner Tesoro Buys Western Refining for $4.1 Billion

November 17, 2016

Via: Fortune
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U.S. oil refiner Tesoro said on Thursday it would buy Western Refining for $4.1 billion to add refineries in Texas, New Mexico, and Minnesota.

The combined company will have refining capacity of over 1.1 million barrels per day. Tesoro has refineries in California, Washington, Alaska, Utah, and North Dakota.

“The acquisition of Western further strengthens our integrated business model and extends our portfolio into attractive and growing markets,” said Tesoro chief executive Greg Goff, who will lead the combined company.

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