Tesoro
Encyclopedia
Tesoro Corporation is a Fortune 100 and a Fortune Global 500
company headquartered in San Antonio, Texas
, with 2008 annual revenues of $28.3 billion, and approximately 5,600 employees.
Tesoro is an independent refiner and marketer of petroleum product
s, operating seven refineries in the Western United States
with a combined rated crude oil capacity of approximately 664000 barrels (105,567.6 m³) per day. Tesoro’s retail-marketing system includes over 870 branded retail gas stations, of which more than 380 are company-operated under the Tesoro, Shell
, Mirastar and USA Gasoline brands.
. Tesoro would eventually become the first Fortune 500 company ever headquartered in San Antonio.
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 72000 oilbbl/d to approximately 664000 oilbbl/d. This change was created due to the following milestones:
Researchers at the Political Economy Research Institute have identified Tesoro as the 24th-largest corporate producer of air pollution
in the United States, releasing roughly 3.74 million pounds of toxic chemicals annually into the air. Major pollutants emitted annually by the corporation include more than 2 million pounds of sulfuric acid
The Environmental Protection Agency
has named Tesoro a potentially responsible party for at least four Superfund
toxic waste sites.
Tesoro has settled and/or closed each of the superfund sites for which it has been named as a one of many responsible parties. Tesoro was listed as a de minimis contributor to a superfund site in Abbeville, LA and the site has since been closed by the EPA.
Tesoro is also the recipient of several Legacy Awards for its environmental record. In its Anacortes refinery, the company voluntarily has used scrubbing technology which costs twice as much as the required techniques to only remove particulate matter.
Tesoro has given over $1 million in support of California Proposition 23 which aims to suspend the Global Warming Solutions Act of 2006
.
Fortune Global 500
The Fortune Global 500 is a ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by Fortune magazine....
company headquartered in San Antonio, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, with 2008 annual revenues of $28.3 billion, and approximately 5,600 employees.
Tesoro is an independent refiner and marketer of petroleum product
Petroleum product
Petroleum products are useful materials derived from crude oil as it is processed in oil refineries.According to crude oil composition and demand, refineries can produce different shares of petroleum products. The largest share of oil products is used as energy carriers: various grades of fuel...
s, operating seven refineries in the Western United States
Western United States
.The Western United States, commonly referred to as the American West or simply "the West," traditionally refers to the region comprising the westernmost states of the United States. Because the U.S. expanded westward after its founding, the meaning of the West has evolved over time...
with a combined rated crude oil capacity of approximately 664000 barrels (105,567.6 m³) per day. Tesoro’s retail-marketing system includes over 870 branded retail gas stations, of which more than 380 are company-operated under the Tesoro, Shell
Royal Dutch Shell
Royal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
, Mirastar and USA Gasoline brands.
History
Tesoro was founded in 1968 by Dr. Robert V. West Jr, as a company primarily engaged in petroleum exploration and production (the name Tesoro is Spanish for "treasure"). In 1969, Tesoro began operating its first refinery, near Kenai, AlaskaKenai, Alaska
Kenai is a city in Kenai Peninsula Borough in the U.S. state of Alaska. According to 2005 Census Bureau estimates, the population of the city is 7,464...
. Tesoro would eventually become the first Fortune 500 company ever headquartered in San Antonio.
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 72000 oilbbl/d to approximately 664000 oilbbl/d. This change was created due to the following milestones:
- 1998: Acquired second refinery in Kapolei, HawaiiHawaiiHawaii is the newest of the 50 U.S. states , and is the only U.S. state made up entirely of islands. It is the northernmost island group in Polynesia, occupying most of an archipelago in the central Pacific Ocean, southwest of the continental United States, southeast of Japan, and northeast of...
along with petroleum terminals and approximately 30 retail stations in Hawaii from BHP Americas. Also acquired the former Shell refinery in Anacortes, Washington. - 1999: Sold explorationOil explorationHydrocarbon exploration is the search by petroleum geologists and geophysicists for hydrocarbon deposits beneath the Earth's surface, such as oil and natural gas...
and production operations. - 2001: Purchased refineries in MandanMandan, North DakotaAs of the census of 2000, there were 16,718 people, 6,647 households, and 4,553 families residing in the city. The population density was 1,642.8 per square mile . There were 6,958 housing units at an average density of 683.7 per square mile...
, North DakotaNorth DakotaNorth Dakota is a state located in the Midwestern region of the United States of America, along the Canadian border. The state is bordered by Canada to the north, Minnesota to the east, South Dakota to the south and Montana to the west. North Dakota is the 19th-largest state by area in the U.S....
and Salt Lake City, UtahUtahUtah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...
from Amoco. - 2002: Acquired Golden Eagle RefineryGolden Eagle RefineryThe Golden Eagle Refinery is a major oil refinery. It is located the San Francisco Bay Area city of Martinez, California. The refinery is owned by Tesoro Petroleum Co.-References:...
in MartinezMartinez, CaliforniaMartinez is a city and the county seat of Contra Costa County, California, United States. The population was 35,824 at the 2010 census. The downtown is notable for its large number of preserved old buildings...
, CaliforniaCaliforniaCalifornia is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
from Ultramar (Valero). - 2003: Sold Tesoro Marine Services to Martin Midstream LLC. Tesoro Marine Services operated fueling and supply terminals servicing Gulf Coast oil and gas exploration. 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 stations.
- 2007: Announces agreement to purchase approximately 150 retail stations in California from USA Petroleum.
- 2009: Tesoro employees move into newly completed corporate campus in July.
Executives
Tesoro Corporation's executive management team:- Greg J. Goff – President and CEO
- Everett Lewis – Executive Vice President and Chief Operating Officer
- Charles S. Parrish – Executive Vice President, General Counsel and Secretary
- G. Scott Spendlove - Senior Vice President, CFO and Treasurer
Environmental record
Air pollution
Air pollution is the introduction of chemicals, particulate matter, or biological materials that cause harm or discomfort to humans or other living organisms, or cause damage to the natural environment or built environment, into the atmosphere....
in the United States, releasing roughly 3.74 million pounds of toxic chemicals annually into the air. Major pollutants emitted annually by the corporation include more than 2 million pounds of sulfuric acid
Sulfuric acid
Sulfuric acid is a strong mineral acid with the molecular formula . Its historical name is oil of vitriol. Pure sulfuric acid is a highly corrosive, colorless, viscous liquid. The salts of sulfuric acid are called sulfates...
The Environmental Protection Agency
United States Environmental Protection Agency
The U.S. Environmental Protection Agency is an agency of the federal government of the United States charged with protecting human health and the environment, by writing and enforcing regulations based on laws passed by Congress...
has named Tesoro a potentially responsible party for at least four Superfund
Superfund
Superfund is the common name for the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 , a United States federal law designed to clean up sites contaminated with hazardous substances...
toxic waste sites.
Tesoro has settled and/or closed each of the superfund sites for which it has been named as a one of many responsible parties. Tesoro was listed as a de minimis contributor to a superfund site in Abbeville, LA and the site has since been closed by the EPA.
Tesoro is also the recipient of several Legacy Awards for its environmental record. In its Anacortes refinery, the company voluntarily has used scrubbing technology which costs twice as much as the required techniques to only remove particulate matter.
Tesoro has given over $1 million in support of California Proposition 23 which aims to suspend the Global Warming Solutions Act of 2006
Global Warming Solutions Act of 2006
The Global Warming Solutions Act of 2006, or Assembly Bill 32, is a California State Law that fights climate change by establishing a comprehensive program to reduce greenhouse gas emissions from all sources throughout the state...
.
Explosion
On April 2, 2010, there was an explosion at the Anacortes, Washington, refinery with seven deaths.External links
- Tesoro Web site
- Collaboration key to shaping energy future (Profile on Bruce Smith in BIC Magazine, June/July 2007)
- California Refineries California Air Resources Board, Emission Impacts of Refineries, April 23, 2009