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RE: Tesoro Corp buys Shell Wilmington

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Charles Randall

Consolidating its position in California, Tesoro pursues a purchase of the Shell Wilmington coking refinery (announced Jan 29) and increases its California refining capacity by 60% which could prevent future Tesoro acquisitions. The Shell refinery has a 43 MBD existing coker which allows Tesoro to take advantage of heavy crude this year instead of 5 years out. 
Tesoro had canceled its 20 MBD Anacortes coking project when project cost doubled, but is still proceeding with the Tesoro Martinez replacement of the refineries fluid coker with a delayed coker.

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