Regulators clear sale of Shell assets to Tesoro
From the Associated Press
Federal antitrust regulators have cleared the sale of Shell Oil Co.’s Wilmington refinery and 250 retail sites in Southern California to independent oil company Tesoro Corp.
According to a notice issued by the Federal Trade Commission, the government has completed its investigation of the sale and ended a waiting period on the transaction.
San Antonio-based Tesoro and Houston-based Shell, a division of Royal Dutch Shell, announced the sale Jan. 29. Shell said in January that the sale, valued at $1.63 billion, was part of a strategy to “streamline and concentrate” its assets.
