FTC Approves Tesoro Corporation’s Application to Divest Boise, Idaho, Terminal Business and Related Assets to Sinclair Transportation Co.

For Your Information

Following a public comment period, the Federal Trade Commission has approved an application by Tesoro Corporation and Tesoro Logistics Operations LLC (Tesoro) to sell its petroleum-related terminaling business and related assets in Boise, Idaho, to Sinclair Transportation Co. The divestiture is required under a final FTC consent order approved in August 2013 to settle charges that Tesoro’s acquisition of Chevron Corporation’s Northwest Products Pipeline assets was likely to substantially lessen competition.

According to the FTC’s June 2013 complaint, the transaction as originally proposed would have likely led to higher prices by giving Tesoro ownership of two of the three full service light petroleum terminals in Boise. Tesoro’s divestiture to Sinclair will restore the competition lost through its acquisition of the Chevron assets.

The Commission vote to approve the proposed divestiture was 4-0. (FTC File No. 131-0052, Docket No. C-4405; the staff contact is Roberta Baruch, Bureau of Competition, 202-326-2861)

The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

Contact Information

MEDIA CONTACT:
Mitchell J. Katz
Office of Public Affairs
202-326-2161