SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 8, 2013
(Exact name of registrant as specified in its charter)
(Registrant's telephone number,
including area code)
(Former name or former address, if
changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
On January 8, 2013, Tesoro Corporation (“Tesoro”) announced that it will cease refining operations at its Hawaii refinery during April of this year, and begin the process of converting the refinery to an import, storage and distribution terminal (the “Conversion”). The press release related to this announcement is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
In connection with the announcement of the Conversion, Tesoro may present certain financial information regarding these assets, including the following: (a) the book value of the refining and logistics long-lived assets and retail long-lived assets of approximately $230 million and $15 million, respectively; (b) Tesoro’s tax basis in the refining and logistics long-lived assets and retail long-lived assets of approximately $65 million and $10 million, respectively; and (c) typical inventory levels utilized to support Tesoro’s Hawaii operations range between 4 million and 5.5 million barrels, including crude oil inventory in transit to Hawaii.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: January 8, 2013
Index to Exhibits