Western Refining
Western Refining was a United States independent oil refiner, petroleum marketer, logistics operator, and convenience-store business focused primarily on the Southwest and other selected regional markets.
Last updated August 26, 2026
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Overview
Western Refining, Inc. was a publicly traded independent petroleum refining and marketing company headquartered in El Paso, Texas. Its business centered on converting crude oil into gasoline, diesel fuel, jet fuel, asphalt, and other refined products, then distributing those products through wholesale channels, terminals, pipelines, retail fuel stations, and convenience stores. The company’s operating footprint was concentrated in the Southwestern United States, although acquisitions later extended its refining and marketing presence into the Upper Midwest and the Mid-Atlantic region. The company’s principal refinery assets were located in El Paso, Texas; Gallup and Bloomfield, New Mexico; and St. Paul Park, Minnesota. The El Paso refinery originated from two neighboring facilities historically associated with Texaco and Chevron. A company called Refinery Holding was formed in 1997 to manage the El Paso assets and acquired them outright in 2000. Western Refining later expanded its crude supply and transportation position through the acquisition of a Chevron pipeline system capable of moving approximately 115,000 barrels of crude oil per day. Western became publicly traded on the New York Stock Exchange in January 2006. In August of that year, it acquired Giant Industries for approximately $1.23 billion in cash. Giant brought additional refineries, crude-gathering infrastructure, transportation assets, service stations, and convenience stores in Arizona, New Mexico, and Colorado. The transaction significantly increased Western’s refining scale and helped establish it as one of the largest publicly traded independent refiners in the United States. The company continued to reshape its portfolio through asset sales and acquisitions. It sold the Yorktown refinery and terminal, together with part of a New Mexico pipeline system, to subsidiaries of Plains All American Pipeline for approximately $220 million, while retaining an East Coast wholesale presence. In 2013, Western acquired the interests of ACON Investments and TPG in Northern Tier Energy LP for approximately $775 million. That transaction added the St. Paul Park refinery, access to Bakken and Canadian crude, storage and terminal assets, rail and river infrastructure, and the SuperAmerica retail network. Western also created Western Refining Logistics, a limited partnership designed to own and operate pipelines, gathering systems, storage tanks, and terminals. Its logistics assets included approximately 300 miles of crude-oil pipelines and gathering systems in West Texas and New Mexico. The company’s retail and marketing portfolio included Giant, Mustang, Sundial, and SuperAmerica-branded locations, as well as sites carrying other fuel brands. Western also traded petroleum products with Mexico, purchasing crude and selling refined products to Mexican buyers. In late 2016, Tesoro Corporation announced an agreement to acquire Western Refining in a transaction valued at an estimated enterprise value of $6.4 billion. Shareholders of both companies approved the transaction in March 2017, subject to regulatory clearance. The acquisition closed in 2017, and the combined business was subsequently renamed Andeavor. Marathon Petroleum acquired Andeavor in 2018. Western Refining therefore no longer operates as an independent public company, although certain assets, brands, and operations became part of the broader Marathon Petroleum organization.
History
Western Refining developed from refinery and petroleum infrastructure in the El Paso region. The El Paso complex consisted historically of two refineries situated across from one another on Trowbridge Avenue, one associated with Texaco and the other, larger facility associated with Chevron Oil. Refinery Holding was formed in 1997 to manage the facilities and acquired them outright in 2000. Western Refining later purchased a Chevron pipeline system able to transport approximately 115,000 barrels of crude oil per day, strengthening the connection between crude supply and refinery operations. The company entered the public markets in January 2006 with a New York Stock Exchange listing. Its first major expansion as a public company was the acquisition of Giant Industries in August 2006 for approximately $1.23 billion in cash. Giant contributed refining capacity, a crude-oil-gathering pipeline system based in Farmington, New Mexico, crude and refined-product trucking assets, and a network of fuel stations and convenience stores in New Mexico, Colorado, and Arizona. The combination made Western one of the largest publicly traded independent refiners in the United States and broadened its commercial reach beyond El Paso. Western’s refinery portfolio included facilities in El Paso and Gallup, as well as a refinery in Bloomfield, New Mexico, which was closed during the company’s operating period. The company also owned terminals in several Southwestern locations and maintained wholesale distribution activities across a wider set of states. It sold the Yorktown refinery and terminal, along with part of a New Mexico pipeline, to Plains All American Pipeline subsidiaries for approximately $220 million. Western retained the Yorktown-area wholesale business and continued marketing petroleum products in the Mid-Atlantic while focusing most refining, retail, and wholesale activity on the Southwest. In 2013, Western expanded into the Upper Midwest through its acquisition of ACON Investments’ and TPG’s interests in Northern Tier Energy LP. The approximately $775 million transaction brought the St. Paul Park refinery in Minnesota into the portfolio and added pipeline access to Bakken and Canadian crude, product terminals, storage tanks, rail facilities, and Mississippi River dockage. The transaction also provided access to the SuperAmerica retail channel, consisting of company-operated and franchised convenience stores. With St. Paul Park included, Western’s combined stated crude-processing capacity reached approximately 242,500 barrels per day. The company pursued a more formal separation of its midstream assets through Western Refining Logistics. The limited partnership was intended to own and develop crude pipelines, gathering systems, storage tanks, and terminals, with the parent initially supplying most revenue through a long-term fee-based services agreement. The logistics platform included approximately 300 miles of crude pipelines and gathering systems in West Texas and New Mexico. This structure reflected a broader industry strategy of separating relatively stable transportation and storage revenues from more cyclical refining margins. Western’s downstream activities covered refining, wholesale distribution, branded retail, convenience stores, trucking, terminals, and cross-border petroleum commerce. Its retail brands included Giant, Mustang, Sundial, and SuperAmerica, while some locations used other major fuel brands. The company also purchased crude oil from Mexico’s Pemex and sold refined products to customers in Mexico. Western’s independent existence ended through a transaction announced by Tesoro in late 2016. The proposed acquisition was valued at an estimated enterprise value of $6.4 billion, and shareholders approved it in March 2017. After completion, the combined company changed its name to Andeavor. Marathon Petroleum acquired Andeavor in 2018, making Western Refining a historical corporate identity rather than a standalone operating company.
- 2018
Andeavor is acquired by Marathon Petroleum
[1]Marathon Petroleum acquired Andeavor, incorporating the former Western Refining operations into its corporate group.
- 2017
Tesoro acquisition closes
[1]Western Refining was acquired by Tesoro, and the combined company later became known as Andeavor.
- 2013
Northern Tier Energy interests are acquired
[1]Western acquired ACON Investments’ and TPG’s interests in Northern Tier Energy LP, adding the St. Paul Park refinery and related logistics and retail assets.
- 2013
Western Refining Logistics is formed
[1]The company created a limited-partnership platform for pipelines, gathering systems, storage, and terminal assets.
- 2006
Western Refining lists on the NYSE
[1]Western Refining became a publicly traded company on the New York Stock Exchange.
- 2006
Giant Industries is acquired
[1]The acquisition of Giant Industries expanded Western’s refining, retail, crude-gathering, and transportation footprint.
- 2000
El Paso refinery assets are acquired outright
[1]Refinery Holding acquired the El Paso refinery facilities outright, consolidating control of the assets that formed the company’s historical foundation.
- 1997
Refinery Holding is formed
[1]Refinery Holding was established to manage the two El Paso refinery facilities that later became central to Western Refining’s operating base.
Products and positioning
A regional independent refiner and vertically integrated petroleum marketer, with particular strength in the Southwestern United States and additional logistics, wholesale, and retail capabilities.
Refined petroleum products
Refined transportation fuels
Western’s refineries primarily produced light refined products, especially gasoline, diesel fuel, and jet fuel. These products were sold through wholesale channels, branded and licensed retail outlets, and regional distribution networks serving the Southwest, Upper Midwest, Mid-Atlantic, and selected Mexican markets.
Refined petroleum products
Asphalt
Asphalt was part of Western Refining’s broader refined-products portfolio. The company maintained asphalt terminals in Phoenix, Tucson, Albuquerque, and El Paso, supporting regional storage and distribution for commercial and infrastructure-related customers.
Fuel retail and convenience stores
Giant
Giant was one of the retail fuel and convenience-store brands associated with Western Refining after its acquisition of Giant Industries. The network operated primarily in the Southwestern United States and combined fuel sales with convenience retail.
Fuel retail and convenience stores
SuperAmerica
SuperAmerica became part of Western’s retail portfolio through the Northern Tier Energy transaction. The network included company-operated and franchised convenience stores serving Minnesota, Wisconsin, South Dakota, and surrounding markets.
Midstream logistics · 2013
Western Refining Logistics
Western Refining Logistics was the company’s midstream platform for crude-oil pipelines, gathering systems, storage tanks, and terminals. Its assets were concentrated in West Texas and New Mexico and were intended to generate fee-based transportation and storage revenue.
Brand decisions
2016
Agree to Tesoro acquisitionM&ABackground
Western agreed to combine with Tesoro as part of a broader consolidation of independent refining and marketing companies.
Action taken
Tesoro announced an agreement to purchase Western Refining at an estimated enterprise value of approximately $6.4 billion.
Aftermath
Shareholders approved the transaction in March 2017, and Western subsequently became part of the company renamed Andeavor.
Estimated enterprise value. $6.4 billion (2016)
2013
Acquire Northern Tier Energy interestsM&ABackground
Western aimed to expand beyond its Southwestern base and obtain additional refinery, logistics, crude-supply, and retail assets.
Action taken
The company acquired ACON Investments’ and TPG’s ownership interests in Northern Tier Energy LP.
Aftermath
Western added the St. Paul Park refinery, Upper Midwest logistics infrastructure, and the SuperAmerica retail network, bringing stated combined refining capacity to approximately 242,500 barrels per day.
Transaction value. $775 million (2013)
2013
Create Western Refining LogisticsStrategyBackground
Western sought to organize its pipeline, storage, terminal, and gathering assets in a dedicated midstream structure.
Action taken
It formed Western Refining Logistics as a limited partnership and pursued a public offering to capitalize the subsidiary.
Aftermath
The platform was designed to operate under fee-based agreements with Western Refining and to separate logistics activities from the more volatile refining business.
2006
Acquire Giant IndustriesM&ABackground
Western Refining sought to increase its refining scale and broaden its retail, transportation, and crude-gathering capabilities.
Action taken
It acquired Giant Industries in an all-cash transaction reported at approximately $1.23 billion.
Aftermath
The combination materially expanded Western’s refinery capacity and created a larger regional refining and marketing platform.
Transaction value. $1.23 billion (2006)
Recent events
- 2018
Marathon Petroleum acquires Andeavor[1]
M&A
Marathon Petroleum acquired Andeavor, placing the former Western Refining operations and assets within the Marathon Petroleum group.
- 2017
Western Refining becomes part of Tesoro and Andeavor[1]
M&A
Shareholders approved the Tesoro transaction in March, and the acquisition was completed later in 2017. The combined company subsequently adopted the Andeavor name.
- 2016
Tesoro announces acquisition of Western Refining[1]
M&A
Tesoro announced an agreement to purchase Western Refining in a transaction with an estimated enterprise value of approximately $6.4 billion.
- 2013
Western Refining acquires Northern Tier Energy interests[1]
M&A
Western Refining acquired the ownership interests held by ACON Investments and TPG in Northern Tier Energy LP. The deal added the St. Paul Park refinery, logistics infrastructure, crude supply access, and the SuperAmerica retail business.
- 2013
Western Refining establishes Western Refining Logistics[1]
Other
The company formed a limited-partnership logistics subsidiary to own and operate pipelines, storage, terminals, and gathering systems, and pursued a public offering to help capitalize the new platform.
- 2006
Western Refining completes acquisition of Giant Industries[1]
M&A
Western Refining acquired Giant Industries in an all-cash transaction reported at approximately $1.23 billion, expanding its refinery capacity, retail network, crude-gathering infrastructure, and transportation operations.
Sources1 sources
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