Marathon Petroleum acquires outstanding shares of Andeavor
KENAI, Alaska (AP) — Marathon Petroleum Corp. says it has finished acquiring all outstanding shares of Andeavor, the company formerly known as Tesoro.
Kenai radio station KSRM reports Marathon and Andeavor in April entered into a $23.3 billion merger agreement.
Andeavor operates refineries in California, Minnesota, New Mexico, North Dakota, Texas, Utah, Washington and Alaska.
Andeavor’s Kenai Refinery processes up to 72,000 barrels of oil per day. The refinery has 225 full time employees on staff. Marathon acquired the Kenai Refinery in the merger.
The refinery produces gasoline, jet fuel, diesel fuel, heating oil and heavy fuel oils, propane and asphalt.
The refinery receives crude oil double-hulled tankers through Cook Inlet and by pipeline from the Kenai Peninsula and Cook Inlet.