Tesoro contracts to supply 300 Shell stations in 5 Western states
By APFriday, August 27, 2010
Tesoro to supply Shell stations in 5 states
SAN ANTONIO — Oil refiner Tesoro Corp. said Friday that it has acquired wholesale supply contracts for 300 Shell stations in five states.
The contracts are for stations in North Dakota, South Dakota, Minnesota, Utah and most of Idaho.
Tesoro said it also includes the ability to expand the Shell brand in the region using its refineries in Mandan, ND, and Salt Lake City.
The transaction takes effect Jan. 1 and gives Tesoro 650 Shell-branded stations. Terms were not released.
Tesoro shares closed up 69 cents, or 6.3 percent, to $11.60.
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