Anchorage Daily News Heard on the Street Column.

Knight Ridder/Tribune Business News

Aug. 11--TESORO COMPLETES REFINERY PURCHASE: Tesoro Petroleum Corp. said Monday that it has completed its $237 million purchase of Shell Anacortes Refinery Co., which operates a 108,000-barrel-a-day refinery in Washington state. Shell Anacortes, which has been renamed Tesoro Northwest Co., had been owned by Shell Oil Co. San Antonio-based Tesoro already owned oil refineries in Kenai and in Hawaii. The purchase raises Tesoro's refining capacity to more than 270,000 barrels a day. Tesoro currently buys all of the oil production from Cook Inlet and also refines crude from the North Slope. The company also operates gas stations in Alaska, …