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Governor Parnell Seeks to Extend Tesoro Contract

January 29, 2014, Juneau, Alaska – Governor Sean Parnell today introduced legislation to extend the state’s contract with Tesoro Refining & Marketing Company, LLC, for the continued sale of royalty oil. Tesoro is the owner and operator of the Kenai refinery.

“Across the state, Alaskans and many of our industries are impacted daily by the production of gasoline and other fuels from the Kenai refinery,” Governor Parnell said. “This extension will help make sure employment in the Kenai Peninsula region stays strong, while also ensuring a robust economy for all Alaskans.”

Governor Parnell’s bill seeks to extend the royalty oil supply negotiated between the state and Tesoro refinery, from January 31, 2015 to January 31, 2016. The contract specifically notes the state will sell between 5,000 and 15,000 barrels of its royalty oil per day to Tesoro.

Tesoro’s refinery supplies products to 31 company-owned Alaska retail outlets, and 44 “branded” outlets operated by franchise owners.

A copy of the bills and transmittal letters is available at:

http://gov.alaska.gov/parnell_media/resources_files/tesorobill_012914.pdf

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