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. Today, Tesoro is a FORTUNE 150 company and one of the largest independent petroleum refiners and marketers in the Western United States.
Beginning in the late 1990s, Tesoro made a series of refinery acquisitions that boosted Tesoro’s capacity output and positioned it for future expansion in key growth markets throughout the Western United States. In 1998, Tesoro acquired refineries in Kapolei, Hawaii, and Anacortes, Washington. In 2001, the company purchased refineries in Mandan, North Dakota, and Salt Lake City, Utah. In 2002, Tesoro acquired its Golden Eagle refinery in Martinez, California. Then in 2007, Tesoro acquired its Los Angeles refinery and USA Gasoline retail stations. Together, the refinery acquisitions expanded Tesoro's capacity from 72,000 barrels per day to approximately 675,000 barrels per day.
Tesoro's retail-marketing system includes over 1,400 branded retail stations, of which nearly 595 are company operated under the Tesoro®, Shell® and USA Gasoline(TM) brands. Tesoro’s commercial marketing system includes sales of jet and marine fuels.
Moving ahead, Tesoro continues to focus on improving profitability from operations by achieving greater operating efficiencies, increasing cash flow from operations and improving shareholder value, and continuing to meet and exceed standards of safe, reliable operations.