Sinclair Transportation Co. announced plans to buy a full-service light petroleum terminal in Boise from competitor Tesoro Logistics, LP.
Terms of the sale were not disclosed.
The sale is pending approval by the Federal Trade Commission and could be finalized by the end of February, according to a Sinclair release. If approved, the purchase will increase Sinclair's Boise storage capacity to more than 460,000 barrels and enables the terminal to offer a full slate of refined oil products and ethanol via a three-bay truck loading rack, according to the release.
Tesoro was ordered by the FTC in June to divest of the terminal in order to preserve competitive balance in the region. The order came after Tesoro made a $355 million purchase from Chevron Corp. that included the 760-mile Northwest Products Pipeline that carries gasoline, diesel, jet fuel and other products from refineries in the Salt Lake City area through southern Idaho and north to Spokane, Wash. Tesoro acquired Chevron's terminal as part of the purchase, giving Tesoro two of the three terminals in Boise. The FTC ordered Tesoro to negotiate a sale of a terminal by December.