BP closes $2.4B sale of Calif. refinery to Tesoro

06/3/2013 | American City Business Journals

BP's $2.4 billion sale of a refinery in Carson, Calif., to Tesoro has been finalized, the U.K. oil major said. The deal covers the refinery, pipeline and storage terminal assets and the ARCO-branded retail marketing network. "With the completion of this divestment, the strategic refocusing of our U.S. fuels portfolio is essentially complete," said Iain Conn, head of BP's global refining and marketing unit.

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