Tesoro Signs Deal with Pemex to Enter Mexico

Tesoro Corp., which will become known as Andeavor Aug. 1, has reached a definitive agreement with Petróleos Mexicanos (Pemex) for terminaling and transportation services in Mexico, the San Antonio-based independent refiner announced Tuesday.

"The expansion of our strategic footprint to include Northern Mexico strengthens our integrated value chain with significant growth opportunities for our marketing business," Tesoro Chairman, President and CEO Greg Goff said in a company statement. Under the agreement, Tesoro will supply transportation fuels in the Mexican states of Sonora and Baja California.

According to Tesoro, the company gained capacity in the open season for Northwest Mexico on Pemex's oil products pipeline and storage terminals earlier this summer. In addition, it stated the now-signed final deal will soon enable it to move products in the country.

Tesoro, which operates 10 U.S. refineries boasting approximately 1.2 million barrels per day of capacity, noted that it expects to integrate supply to Mexico with its West Coast Refining and Logistics system and market products under the ARCO brand.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Shell Divests Stake in Saudi JV (Aug 16)
 -  Saipem to Build Pipelines for Kuwait R... (Aug 16)
 -  The Trick to Nailing Your Electrical E... (Aug 10)
 -  Jacobs Expands MSA for Chevron's US Re... (Aug 9)
 -  Common Interview Questions for Mechani... (Aug 8)


Most Popular Articles

From the Career Center
Jobs that may interest you
Project Engineer
Expertise: Civil Engineering|Mechanical Engineering|Project Engineer
Location: Wichita, KS
 
Pipeline Sales Representative 2
Expertise: Sales
Location: Washington, PA
 
Director, Business Development
Expertise: Business Development
Location: Hanover, MD
 
search for more jobs

Brent Crude Oil : $50.8/BBL 0.13%
Light Crude Oil : $47.55/BBL 0.08%
Natural Gas : $2.94/MMBtu 0.67%
Updated in last 24 hours