Tesoro Corporation Fund Company Profile

Description

Tesoro Corporation, through its subsidiaries, operates as an independent petroleum refining, logistics, and marketing company in the United States. Its Refining segment refines crude oil and other feed stocks into transportation fuels, such as gasoline, gasoline blend stocks, jet fuel, and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas, petroleum coke, calcined coke, and asphalt. This segment also sells refined products in the wholesale market primarily through independent unbranded distributors; and in the bulk market primarily to independent unbranded distributors, other refining and marketing companies, utilities, railroads, airlines, marine, and industrial end-users in the western United States. It owns and operates 6 refineries with a combined crude oil capacity of approximately 875 thousand barrels per day. The company’s TLLP segment owns and operates a network of approximately 3,500 miles of crude oil, refined products, and natural gas pipelines; 29 crude oil and refined products truck and marine terminals; and approximately 15 million barrels of storage capacity. This segment also owns and operates four natural gas processing complexes and one fractionation facility. The company’s Marketing segment sells gasoline and diesel fuel through retail stations, and third-party branded dealers and distributors in the western United States. As of December 31, 2015, this segment operated a network of 2,397 retail stations under the ARCO, Shell, Exxon, Mobil, USA Gasoline, and Tesoro brands. The company was formerly known as Tesoro Petroleum Corporation and changed its name to Tesoro Corporation in November 2004. Tesoro Corporation was founded in 1968 and is headquartered in San Antonio, Texas.