|Exchange:||New York Stock Exchange|
|Industry:||Oil & Gas Refining & Marketing|
|Tesoro Corporation was incorporated in Delaware in 1968. The Company is a independent petroleum refining and marketing companies in the western United States. Its subsidiaries, operating through three business segments, primarily transport crude oil and manufacture, transport and sell transportation fuels. Its refining operating segment, which owns and operates six refineries in the western United States, refines crude oil and other feedstocks into transportation fuels, such as gasoline and gasoline blendstocks, jet fuel and diesel fuel, as well as heavy fuel oils and other residual products, for sale in wholesale and bulk markets to a wide variety of customers within its markets. Its retail operating segment sells transportation fuels and convenience store products in 17 states through a network of 2,264 retail stations, under the Tesoro®, Shell®, ARCO®, Exxon®, Mobil® and USA GasolineTM brands. The Company own and operate six petroleum refineries located in the western United States and sell transportation fuels to a variety of customers. The Company operate a refined products terminal at its Martinez refinery, which includes a truck loading rack with three loading bays that allows them to receive refined products through interconnecting pipelines from the refinery and ship refined products blended with available renewable fuels via trucks. Its retail network provides a committed outlet for the majority of the gasoline produced by its refineries; however, it also sell gasoline and gasoline blendstocks, jet fuel, diesel fuel, heavy fuel oils and residual products in both the bulk and wholesale markets in the western United States. It also export gasoline and diesel fuel to certain foreign markets. They sell over 330 Mbpd in the wholesale market primarily through independent unbranded distributors that sell refined products purchased from them through approximately 80 owned, TLLP and third-party terminals. Its bulk sales are primarily to independent unbranded distributors, other refining and marketing companies, utilities, railroads, airlines and marine and industrial end-users. These products are primarily distributed by TLLP and third-party pipelines, ships, barges, rail cars and trucks. Its sales include refined products that they manufacture, purchase or receive through exchange arrangements. The Company is subject to extensive and frequently changing federal, state, regional and local laws, regulations and ordinances relating to the environment, including those governing emissions or discharges to land, air and water, the handling and disposal of solid and hazardous wastes and the remediation of contamination.|
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