Tesoro Corporation, which will formally change its name to Andeavor effective Aug. 1, 2017, has reached a definitive agreement with Petróleos Mexicanos (Pemex) for terminaling and transportation services in Mexico. The agreement will enable Tesoro to supply transportation fuels in the Mexican states of Sonora and Baja California.
Earlier this summer, Tesoro was awarded capacity in the open season for Northwest Mexico on the Pemex oil products pipeline and storage terminals. The final agreement with Pemex has now been signed and Tesoro will soon begin to move products in the country through this arrangement.
“The expansion of our strategic footprint to include Northern Mexico strengthens our integrated value chain with significant growth opportunities for our marketing business,” said Greg Goff, Chairman, Tesoro President and CEO. “We are excited about Mexico and the opportunity to create value for the Company, customers, business partners and communities.”
Tesoro plans to integrate supply to Mexico with its West Coast Refining and Logistics system and market products in country under the ARCO® brand.