Tesoro
From Wikipedia, the free encyclopedia
| Tesoro Corporation | |
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| Type | Public |
|---|---|
| Founded | 1968 |
| Headquarters | San Antonio, TX, USA |
| Key people | Bruce Smith, Chairman, President & CEO |
| Industry | Oil and Gasoline |
| Products | Petroleum Products |
| Revenue | $12 billion USD (2005) |
| Employees | 4,000 |
| Website | www.tsocorp.com |
Tesoro Corporation NYSE: TSO is a FORTUNE 500 company headquartered in San Antonio, Texas, with 2004 annual revenues of $12.2 billion, assets of $4 billion, and more than 4,000 employees.
Tesoro is an independent refiner and marketer of petroleum products, operating six refineries in the Western United States with a combined rated crude oil capacity of nearly 560,000 barrels per day. Tesoro’s retail-marketing system includes over 500 branded retail gas stations, of which more than 200 are company-operated under the Tesoro® and Mirastar® brands. The Mirastar brand is used for stations operated jointly with Wal-Mart stores in the Western United States.
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[edit] History
Tesoro was founded in 1968 by Dr. Robert V. West Jr, as a company primarily engaged in petroleum exploration and production. In 1969, Tesoro began operating Alaska's first refinery, near Kenai. As of 2005, Tesoro is a FORTUNE 200[1] company and one of the largest independent petroleum refiners and marketers in the United States.
In the late-1990s, Tesoro grew through a series of acquisitions and initiatives that created Tesoro Corporation – the company focuses on a single core business: petroleum refining and marketing. Acquisitions expanded refining capacity from 72,000 barrels per day to nearly 560,000 barrels per day. This change was created due to following milestones:
- 1998: Acquired refineries in Kapolei, Hawaii and Anacortes, Washington.
- 1999: Sold exploration and production operations.
- 2001: Purchased refineries in Mandan, North Dakota and Salt Lake City, Utah.
- 2002: Acquired Golden Eagle refinery in Martinez, California.
- 2003: Sold marine services. Also made a series of refinery acquisitions that boosted the company’s capacity output and positioned it for future expansion in key growth markets throughout the Western United States.
- 2005: Largest capital expansion program in the company’s history; record earnings.
- 2007: Announces agreements to purchase Shell’s Los Angeles refinery and approximately 250 southern California retail sites
[edit] Executives
Tesoro Corporation's Senior Management Team:[2]
| Bruce A. Smith | Chairman, President and Chief Executive Officer |
| William J. Finnerty | Executive Vice President and Chief Operating Officer |
| Everett Lewis | Executive Vice President, Corporate Strategic Planning |
| Gregory A. Wright | Executive Vice President and Chief Financial Officer |
| W. Eugene Burden | Senior Vice President, External Affairs |
| C. A. “Chuck” Flagg | Senior Vice President, Supply and Optimization |
| J. William Haywood | Senior Vice President, Refining |
| Joseph M. Monroe | Senior Vice President, Business Integration and Analysis |
| Charles S. Parrish | Senior Vice President, General Counsel and Secretary |
| Dan Porter | Senior Vice President, Marketing |
| Lynn Westfall | Senior Vice President, Chief Economist |
| Susan A. Lerette | Vice President, Human Resources |
| Otto C. Schwethelm | Vice President, Finance and Treasurer |
| Sarah S. Simpson | Vice President, Corporate Communications |
| Arlen Glenewinkel Jr. | Vice President and Controller |
| Iype Chacko | Vice President, Crude Oil Supply |
