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Exclusive: U.S. approval of Tesoro BP refinery buy seen imminent

Independent western U.S. refiner Tesoro Corp may take ownership of BP Plc's 240,000 barrel per day (bpd) refinery in Carson, California, as early as June 1, sources familiar with the transaction said on Thursday.Other sources told Reuters that the U.S. Federal Trade Commission, which assessed the deal to ensure that it complied with antitrust law, were prepared to approve the purchase within days.That approval could come as early as Friday, said one source with knowledge of discussions between the company and the agency. It was not known if the FTC will place conditions on the deal's approval.The sources could not speak for attribution, citing the need to protect business relationships. A BP spokesman declined to discuss the transaction.Tesoro announced last August that it had agreed to buy BP's Carson plant for $2.5 billion. The proposed deal has been awaiting approval by the FTC and by California's attorney general.The sale includes an 800-station retail network and distribution and ...

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  1. Chesapeake CEO Search Extends Beyond Deadline

    Chesapeake Energy Corp's search for a new chief executive to replace Aubrey McClendon is likely to extend beyond an April 1 deadline, according to a person familiar ...

  2. Anadarko Leads Energy Stocks Higher, Up 4.1%

    Anadarko Petroleum Corp. shares rose 4.1% on Wednesday, leading energy stocks higher, after the company announced a well discovery in deepwater Gulf of Mexico that i...

  3. Anadarko, Partners Announce U.S. Gulf of Mexico Oil Find

    Anadarko Petroleum Corp. (APC) and four partner companies announced a major discovery in the deepwater Gulf of Mexico Tuesday that they heralded as one of the larges...

  4. Anadarko Petroleum, 4 Partners Announce Gulf of Mexico Discovery

    Anadarko Petroleum Corp. and four partners announced a discovery in the deepwater Gulf of Mexico Tuesday that Anadarko called one of its largest in the Gulf.The 31,4...

  5. Empyrean Energy: Marathon Oil Adds Two More Wells to Drill

    Empyrean Energy PLC (EME.LN), said Wednesday that Marathon Oil has informed Empyrean that at least two further wells have been added, at this early stage, to the dri...

  6. Faroe Petroleum: Darwin Well Starts Drilling in Norwegian Barents Sea

    Faroe Petroleum PLC (FPM.LN), an independent oil and gas company, Monday announces the spudding of the Darwin exploration well--7218/11-1, in which it has a 12.5% in...

  7. ConocoPhillips: Looking to Reduce APLNG, Oil Sands Stakes

    ConocoPhillips (COP) plans to sell some parts of its stakes in expensive developments such as the Australia Pacific LNG project and in the Canadian oil sands in orde...

  8. Empyrean Energy: Sugarloaf Production +29% in 4Q 2012 Vs 3Q

    Empyrean Energy PLC (EME.LN), an AIM listed condensate and gas exploration and production company focused on the Eagle Ford Shale, Texas, U.S., said Tuesday producti...

  9. Magnolia Petroleum Reports Spud of Helgeson Well on Bakken Formation

    Magnolia Petroleum PLC (MAGP.LN), an onshore U.S.-focused oil and gas company, Friday reported that the Helgeson 41-30H well, a horizontal well operated by Marathon ...

  10. Marathon Oil 4th-Quarter Net Falls 41% on Lower Exploration, Production Income

    Marathon Oil Corp.'s (MRO) fourth-quarter earnings fell 41%, partly due to write-downs and other charges, and the company fell short of analysts' expectations as hig...

  11. Marathon Oil Net Falls 41% on Lower Income

    Marathon Oil Corp.'s (MRO) fourth-quarter earnings fell 41%, partly due to write-downs and other charges, as its exploration and production segment's profit declined...

  12. Exxon Mobil Profit Up 5.9% on Strong Downstream Profits

    Strong refining profits helped push Exxon Mobil Corp.'s (XOM) 2012 earnings close to their historical record, despite disappointing production figures and tepid retu...

  1. Interior Secretary Asks Energy Executives to Acknowledge Own Role in Regulatory Slowdown

    Secretary of the Interior Sally Jewell said she asked energy industry executives to accept the role they play in how slowly new regulations move forward, warning the...

  2. Marathon Oil 1st-Quarter Net Falls 8.2% on Tax Provision

    Marathon Oil Corp.'s (MRO) first-quarter earnings fell 8.2% as the energy company set aside more for income taxes, masking revenue growth.Shares fell 4.4% to $2.84 a...

  3. Marathon Petroleum First-Quarter Profit Up 22% on Higher Revenue

    Marathon Petroleum Corp.'s (MPC) first-quarter earnings rose 22% as the refining-and-pipeline company continued to work toward processing more inexpensive North Amer...

  4. Marathon Petroleum 1st-Quarter Profit Up 22% on Higher Revenue

    Marathon Petroleum Corp.'s (MPC) first-quarter earnings rose 22% as the refining-and-pipeline company's revenue growth topped Wall Street expectations.The standalone...

  5. Penn Virginia to Buy Magnum Hunter's Eagle Ford Shale Properties for $401 Million

    Penn Virginia Corp. (PVA) agreed to buy all of Magnum Hunter Resources Corp.'s (MHR) Eagle Ford Shale properties for $401 million as the oil and gas company looks to...

  6. Timeline: The long path to a Dell buyout

    Dell Inc founder Michael Dell's efforts to take the PC company private began last summer with an idea pitched by its top institutional shareholder, Southeastern Asse...

  7. Exclusive: Chesapeake CEO search extends beyond deadline - source

    Chesapeake Energy Corp's search for a new chief executive to replace Aubrey McClendon is likely to extend beyond an April 1 deadline, according to a person familiar ...

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