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Tesoro acquires struggling new Bakken refinery


Tesoro acquires struggling new Bakken refinery

Report summary

Tesoro announced the purchase of Dakota Prairie Refining (DPR), a joint venture between Calumet and MDU Resources and the owner of a recently built 20 kb/d refinery in Dickinson, North Dakota. The abrupt sale of the loss-making refinery should give pause to proposals to build new, similarly configured refineries in the area. With the acquisition, Tesoro could capture value from synergies with its logistics operations and existing refinery in Mandan, North Dakota.

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Description

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