Tesoro Corporation

Tesoro Corporation, a Fortune 100 company, is an independent refiner and marketer of petroleum products. Tesoro, through its subsidiaries, operates seven refineries in the western United States with a combined capacity of over 895,000 barrels per day and ownership in a logistics business, which includes an approximately 34% interest in Tesoro Logistics LP (NYSE: TLLP) and ownership of its general partner. Tesoro’s retail-marketing system includes over 2,400 retail stations under the ARCO®, Shell®, Exxon®, Mobil®, USA Gasoline™, Rebel™ and Tesoro® brands.

Our History

Tesoro was founded in 1968 as a company primarily engaged in petroleum exploration and production. In 1969, we began operating our first refinery near Kenai, Alaska, which today remains an important part of our expanding operations.

In the late 1990s, Tesoro began a series of refinery, logistics and retail acquisitions that have boosted the company’s capacity output, improved the efficiency of our operations, increased our retail presence and positioned us for future expansion in key growth markets. During this time, we also exited the exploration and production business.

• 1968: Tesoro Corporation founded
• 1969: Began operating first refinery in Kenai, Alaska
• 1998: Acquired Anacortes, Wash. refinery
• 2001: Acquired Salt Lake City, Utah refinery and Mandan, N.D. refinery
• 2002: Acquired Golden Eagle Refinery in Martinez, Calif.
• 2007: Acquired Los Angeles Refinery – Wilmington operations in Wilmington, Calif. as well as USA Gasoline™ brand and 138 retail sites
• 2007-2010: Acquired 300 existing Shell®-branded wholesale supply contracts, expanding operations to a total of 650 Shell®-branded sites
• 2011: Formed Tesoro Logistics LP, a master limited partnership that owns, operates, develops, and acquires logistics assets to gather crude oil and distribute, transport and store crude oil and refined products
• 2013: Expanded Los Angeles Refinery with acquisition of Carson, Calif. operations. Acquired ARCO® brand, ampm® master franchisee license and approximately 800 dealer-operated sites. Also, secured rights from ExxonMobil to use the Exxon® and Mobil® brands at retail stations in Northern California, Minnesota, Nevada, Central/Eastern North Dakota, Oregon, Northeastern South Dakota and Western Washington, and assumed ownership of branded-wholesale supply contracts for 54 Exxon- or Mobil-branded retail stations in Minnesota

Today, Tesoro Corporation, through its subsidiaries, is one of the largest independent petroleum refiners and marketers in the country, with a strategically concentrated presence in the western United States. Moving ahead, we are committed to continuing to meet and exceed the standards of safe, reliable operations, while focusing on improving profitability and increasing shareholder value.