Tesoro Corp. sold Los Angeles crude oil and refined products storage facilities and related pipeline assets for $500 million to Tesoro Logistics LP (TLLP). The assets have collective capacity of 6.6 million bbls and include a 50% interest in the 16-mile pipeline Line 88 with capacity of 25,000 b/d. The transaction included $250 million in cash and TLLP units valued at $250 million transferred to Tesoro.
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