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Tesoro was founded in 1968 [6] by Dr. Robert Van Osdell West Jr (1921–2006), [7] and was primarily engaged in petroleum exploration and production. Tesoro began operating its first refinery, near Kenai, Alaska, in 1969. Tesoro became the first Fortune 500 company to be headquartered in San Antonio, Texas.
Phillips 66 announced Wednesday that it will close its Wilmington-area refinery complex next year but will work with the state to continue supplying fuel to consumers.
The decision by Phillips 66 this week to shutter its refinery in Wilmington next year will wipe out more than 8% of the state's crude oil processing capacity. Another refinery shuts down in ...
The refinery was expanded from 60,000 barrels per day (9,500 m 3 /d) to 65,000 barrels per day (10,300 m 3 /d) in 1982. It was expanded again to have a processing capacity of 70,000 barrels per day (11,000 m 3 /d) in 2007. The employees of the Warren refinery are represented by the International Union of Operating Engineers.
Pennsylvania, Ohio and West Virginia engaged in a tax competition for the plant. In 2012, Pennsylvania structured a deal requiring Shell to invest at least $1 billion in Pennsylvania and create at least 2,500 construction jobs in exchange for a 25-year tax incentive of $66 million per year and tied to production, reducing Shell's tax by up to 20 per cent.
A deal conferring a set of BP's American assets to Tesoro has been finalized. The latter is the owner of the petroleum giant's now-former refinery in Carson, near Los Angeles, and a network of ...