Oil Company to Sell Idaho Fuel Terminal to Buy Pipeline
BOISE, Idaho (AP) — An oil company poised to buy a regional fuel pipeline has also agreed with regulators to sell off a petroleum products terminal in Boise. Tesoro Corp. officials say they have reached a deal with the Federal Trade Commission to sell one of two light petroleum terminals in an effort to maintain a competitive marketplace in the region.
The Idaho Statesman reports the agreement is a byproduct of Tesoro’s purchase of a 760-mile pipeline and Boise fuel terminal from Chevron Corp. The pipeline carries gasoline, diesel, jet fuel and other products from refineries near Salt Lake City to southern Idaho and into the Spokane market. Tesoro’s deal with Chevron would have given the company ownership of two of Boise’s three petroleum terminals — something federal regulators sought to avoid.