Andeavor and Andeavor Logistics Respond to FERC Announcement

SAN ANTONIO - March 15, 2018 -The Federal Energy Regulatory Commission ("FERC"), today announced that it would be revising its policy regarding income tax allowances in the rates of pipelines operated by MLPs. Andeavor Logistics (NYSE: ANDX) operates some FERC regulated pipelines, but...

London, 15/03/2018 (informazione.news - comunicati stampa - energia)

The Federal Energy Regulatory Commission ("FERC"), today announced that it would be revising its policy regarding income tax allowances in the rates of pipelines operated by MLPs.

Andeavor Logistics (NYSE: ANDX) operates some FERC regulated pipelines, but anticipates that the ruling may only have a possible annual negative impact to Andeavor Logistics' net earnings and EBITDA of less than $10 million, which reflects the entire potential impact of changes in the FERC corporate tax allowance.

In addition, the FERC ruling also addressed the rate structure of certain pipelines operated by SFPP, L.P.  Andeavor (NYSE: ANDV) is a party to these cases involving SFPP, L.P. and anticipates receiving refunds that will have a positive impact upon future cash flows, which we are in the process of estimating.

Andeavor is a premier, highly integrated marketing, logistics and refining company. Andeavor's retail-marketing system includes more than 3,250 stores marketed under multiple well-known fuel brands, including ARCO , SUPERAMERICA , Shell , Exxon , Mobil , Tesoro , USA Gasoline and Giant . It also has ownership in Andeavor Logistics LP (NYSE: ANDX) and its non-economic general partner. Andeavor operates 10 refineries with a combined capacity

Andeavor Logistics LP is a leading full-service logistics company operating primarily in the western and mid-continent regions of the United States. Andeavor Logistics owns and operates a network of crude oil, refined products and natural gas pipelines. Andeavor Logistics also owns and operates crude oil and refined products truck terminals, marine terminals and dedicated storage facilities. In addition, Andeavor Logistics owns and operates natural gas processing and fractionation complexes. Andeavor Logistics owns a fee-based fuel wholesale business. Andeavor Logistics is a fee-based, growth oriented Delaware limited partnership formed by Andeavor.

http://www.andeavor.com

ANDV Investors:
Brad Troutman, Investor Relations, (210) 626-4568

ANDX Investors:
Andrew Woodward, Sr. Director, Finance and Investor Relations, (210) 626-7202

Andeavor Media Relations, media@andeavor.com, (210) 626-7702