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BP Sells Its Carson Refinery And ARCO Retail Network To Tesoro

“As an established refiner and marketer, Tesoro provides a strong future for the business and for its employees,” says Iain Conn, chief executive of BP’s global refining and marketing business. BP reached an agreement to sell its Carson, Calif., refinery and related logistics and marketing assets to the Tesoro Corporation for $2.5 billion in cash

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BP Pays $13 Million In Settlement With U.S. Department Of Labor

BP plans to resolve all of the citations issued to it by the U.S. Department of Labor’s Occupational Safety and Health Administration by the end of the year. BP Products North America Inc. agreed to abate safety violations and pay $13,027,000 to the Occupational Safety and Health Administration (OSHA) for penalties. OSHA and BP Products

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The Carlyle Group Buys Sunoco’s Philadelphia Refinery

“We believe the changing nature of the energy paradigm in the U.S., coupled with a redefined operating model, can truly benefit this refinery,” says Carlyle managing director. Sunoco Inc.’s Philadelphia refinery, which was facing potential closure at the end of July, has been saved by The Carlyle Group. The Washington-based private-equity manager announced plans Monday

Wholesale Gasoline Costs Surge on Fed’s Quantitative Easing

Brian L. Milne, Refined Fuels Editor, Telvent DTN Wholesale gasoline costs were pumped higher by a sharp advance in New York Mercantile Exchange oil futures during the first week of November, with crude values spiking to a better than two-year high after the Federal Reserve announced a monetary policy aimed at spurring economic growth. NYMEX

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