Tesoro Logistics LP will buy storage and pipeline assets in Los Angeles owned by subsidiaries of refiner Tesoro Corp. , the companies said Tuesday. The $500 million deal includes storage tanks and a 16-mile pipeline that transports jet fuel from Tesoro’s Los Angeles refinery to Los Angeles International Airport, they said. The deal “demonstrates our commitment to growing a full-service logistics business with a focus on stable, fee-based revenues,” Tesoro Logistics Chief Executive Greg Goff said in a statement. Shares of Tesoro and Tesoro Logistics were flat in late trading Tuesday after ending the regular session up 2.2% and down 0.9%, respectively.
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