Industry | Oil and gas |
---|---|
Predecessor | Western Refining |
Founded | 1968 |
Founder | Robert V. West Jr. |
Defunct | October 1, 2018 |
Fate | Acquired by Marathon Petroleum |
Successor | Marathon Petroleum |
Headquarters | , |
Number of locations | 10 oil refineries, [1] 3,000 branded retail gas stations [2] |
Area served | Central, Western U.S, Western México |
Products | Petroleum products, natural gas and fuel |
Revenue | US$34.975 billion (2017) |
US$1.525 billion (2017) | |
US$1.528 billion (2017) | |
Total assets | US$28.573 billion (2017) |
Total equity | US$9.815 billion (2017) |
Number of employees | 14,300 (2017) |
Footnotes /references [3] |
Tesoro Corporation, known briefly as Andeavor, was a Fortune 100 [4] and a Fortune Global 500 company headquartered in San Antonio, Texas, with 2017 annual revenues of $35 billion, and over 14,000 employees worldwide. Based on 2017 revenue, the company ranked No. 90 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. [5]
Tesoro was an independent refiner and marketer of petroleum products, operating ten refineries in the Western United States with a combined rated crude oil capacity of approximately 1,200,000 barrels (190,000 m3) per day. Tesoro's retail-marketing system included approx. 3,000 branded retail gas stations, of which more than 595 were company-operated under its own Tesoro brandname, as well as Shell, ExxonMobil, ARCO, and USA Gasoline brands.
Tesoro, known at the time as Andeavor, was acquired by Marathon Petroleum on October 1, 2018.
Tesoro was founded in 1968 [6] by Dr. Robert Van Osdell West Jr (1921–2006), [7] and was primarily engaged in petroleum exploration and production. Tesoro began operating its first refinery, near Kenai, Alaska, in 1969. Tesoro became the first Fortune 500 company to be headquartered in San Antonio, Texas. Tesoro is the word for treasure (or treasury) in Italian and Spanish.
Beginning in the late 1990s, Tesoro grew through a series of acquisitions and initiatives that created Tesoro Corporation, the company focusing on the core business of petroleum refining, marketing, maritime transportation and distribution. The first segment involved the operation of six petroleum refineries situated in California, Alaska, Washington, Hawaii, North Dakota, and Utah. [8] For its marketing and distribution segment, Tesoro sold refined gas and fuel products in both bulk and wholesale markets. [8] Acquisitions expanded refining capacity from 72,000 barrels per day (11,400 m3/d) to approximately 664,000 barrels per day (105,600 m3/d).
Prior to its acquisition by Marathon Petroleum in 2018, Tesoro was the third-largest independent petroleum refining and marketing company in the United States. The merger between the two companies formed the largest American refiner by capacity and the fifth in the world. [9]
Milestones in Tesoro's history are:
Having taken over BP installations, researchers at the Political Economy Research Institute identified Tesoro as being the 24th-largest corporate producer of air pollution in the United States, releasing roughly 3,740,000 lb (1,700 t) of toxic chemicals annually. [22] Major pollutants emitted annually by the corporation were estimated to include more than 400,000 lb (180 t) of sulfuric acid, [23] following which the Environmental Protection Agency named Tesoro a potentially responsible party for at least four superfund toxic waste sites. [24] Tesoro settled and/or closed each of the superfund sites where it was named as 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 gave over $1 million in support of California Proposition 23, which aimed to suspend the Global Warming Solutions Act of 2006. [25]
Defenders of the Amazon forest in South America cite Tesoro for sourcing some of their crude oil from the Amazon. Three of Tesoro's refineries - Anacortes (WA), LA (CA) and Golden Eagle (CA), were known to process Amazonian crude oil. [26]
On April 2, 2010, an explosion at Tesoro's refinery in Anacortes, Washington, killed seven workers. [27]
Tesoro bought Libyan crude oil, after the overthrow of Colonel Gaddafi, in early April 2011 from the Vitol Group to supply its then-Hawaiian refinery. [28]
ARCO is a brand of gasoline stations owned by Marathon Petroleum. BP, which formerly owned the brand, uses it in Northern California, Oregon and Washington, while Marathon has rights for the rest of the United States and Mexico.
Valero Energy Corporation is an American-based fuels producer mostly involved in manufacturing and marketing transportation fuels and other related products. It is headquartered in San Antonio, Texas, United States. Throughout the United States, Canada, and the U.K., the company owns and operates 15 refineries with a combined throughput capacity of approximately 3.2 million barrels per day, two renewable diesel plants that produce approximately 1.2 billion gallons per year, and 12 ethanol plants with a combined production capacity of 1.6 billion gallons.
Husky Energy Inc. was a Canadian company engaged in hydrocarbon exploration, headquartered in Calgary, Alberta, Canada. It operated in Western and Atlantic Canada, the United States and the Asia Pacific region, with upstream and downstream business segments. In the 2020 Forbes Global 2000, Husky Energy was ranked as the 1443rd-largest public company in the world.
Sinclair Oil Corporation was an American petroleum corporation founded by Harry F. Sinclair on May 1, 1916. The Sinclair Oil and Refining Corporation amalgamated the assets of 11 small petroleum companies. Originally a New York corporation, Sinclair Oil reincorporated in Wyoming in 1976. The corporate logo featured the silhouette of a large green Brontosaurus dinosaur, based on the then-common idea that oil deposits beneath the earth came from the dead bodies of dinosaurs.
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
ampm is a convenience store chain with branches located in several U.S. states, including Arizona, California, Nevada, Oregon, Washington and in several countries such as Costa Rica and Brazil. The brand pulled out of the Eastern United States in 2012, but returned a decade later.
Hess Corporation is an American global independent energy company involved in the exploration and production of crude oil and natural gas. It was formed by the merger of Hess Oil and Chemical and Amerada Petroleum in 1968. Leon Hess was CEO from the early 1960s through 1995, after which his son John B Hess succeeded him as chairman and CEO. The company has agreed to be acquired by rival oil company Chevron.
Atlantic Petroleum was an oil company in the Eastern United States headquartered in Philadelphia, Pennsylvania, and a direct descendant of the Standard Oil Trust. It was also one of the companies that merged with Richfield Oil Corporation to form the "AtlanticRichfield Co.", later known as ARCO.
Giant Industries (NYSE: GI) was an oil refinery company headquartered in Scottsdale, Arizona in the United States.
The Cherry Point Refinery is an oil refinery near Bellingham, Washington, north of Seattle in the United States. Owned by BP, is the largest refinery in Washington state. It is located about seven miles (11 km) south of Blaine and eight miles (13 km) northwest of Ferndale, a few miles south of the Canada–US border, on the Strait of Georgia between Birch Bay and Lummi Bay.
Western Refining, Inc., is a Texas-based Fortune 200 and Global 2000 crude oil refiner and marketer operating primarily in the Southwestern, North-Central and Mid-Atlantic regions of the United States. Western Refining (WNR) has been publicly traded on the New York Stock Exchange since January 2006 and is the fourth largest publicly traded independent refiner and marketer in the nation.
The Mandan Refinery is the largest oil refinery in North Dakota, located within the northeastern corner of the city limits of Mandan, ND just north off Exit 153 of Interstate 94. As of 2022 it has a capacity of 76,000 barrels (12,100 m3) per day. The facility is owned by Marathon Petroleum.
U Save Automatic is an American oil company which operates in the United States. It was founded as Skypower Gasoline by Peter Moller and his sons Poul, Finn and John and changed the name to USA Gasoline in 1968. USA Gasoline operated in 10 states, including Alaska, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming. It became a subsidiary of Tesoro Corporation in 2007, later renamed Andeavor in 2017, which was, in turn, acquired by Marathon Petroleum in 2018.
The Ferndale Refinery is an oil refinery near Ferndale, Washington, United States, that is owned by Phillips 66. It is located in the Cherry Point Industrial Zone west of Ferndale and had a capacity of 101,000 barrels per day in 2015, 64th largest in the nation. The Ferndale Refinery produces predominantly transportation fuels consumed in local markets and also includes secondary processing facilities such as a fluid catalytic cracker, an alkylation unit, hydotreating units, and a naphtha reformer. The plant follows a 10-5-3-2 crack spread, meaning that for ten barrels of crude feedstock, the refinery produces five barrels of gasoline, three barrels of distillate, and two barrels of fuel oil.
On February 1, 2015, United Steelworkers (USW) announced that "more than 5,200 USW oil workers at 11 refineries in California, Indiana, Kentucky, Ohio, Texas and Washington are on strike against the industry’s unfair labor practices". The list of charges alleged by NSW filed with the NLRB included: bad-faith bargaining over the companies’ refusal to negotiate over mandatory subjects, impeded bargaining for the companies’ undue delays in providing information, threatening workers if they join the ULP strike and others. As of March 3, 2015, about 6,550 workers were on strike at 15 plants, including 12 refineries with a fifth of U.S. capacity. It was the first time since 1982 that U.S. oil workers have walked off their jobs to protest working conditions. The National Oil Bargaining talks began in 1965 and are part of the U.S. oil industry's Pattern bargaining process.
The Puget Sound Refinery is an oil refinery on March Point near Anacortes, Washington, United States. It is operated by HF Sinclair and is one of the largest employers in Skagit County. The refinery has a capacity of 145,000 barrels a day, making it the 52nd largest in the United States, in 2015, with facilities that include a delayed coker, fluid catalytic cracker, polymerization unit and alkylation units. HF Sinclair’s refinery produces three grades of gasoline, fuel oil, diesel fuel, propane and butane. This plant is currently the only refinery in Washington state unable to accommodate tight oil via rail. The permitting process is currently underway for the proposed 60,000 b/d unloading capacity of the East Gate Rail Project.
Par Pacific Holdings is a Houston-based American oil and gas exploration and production company. Known as Par Petroleum Corporation after it emerged from bankruptcy, it was renamed Par Pacific Holdings on October 20, 2015. As of 2017 it was a Fortune 1000 corporation.
The Gallup Refinery, also known as the Ciniza Refinery, was an American oil refinery. The facility is located in northwestern New Mexico along Interstate 40, approximately 20 miles east of the city center of Gallup and near the town of Jamestown, New Mexico. The facility occupies 880 acres in McKinley County and employed approximately 220 employees as of March 2019. The facility processed approximately 26,000 barrels of crude oil per day and produced gasoline, diesel, heavy fuel oil, and propane.
Following the 1911 Supreme Court ruling that found Standard Oil was an illegal monopoly, the company was broken up into 34 different entities, divided primarily by region and activity. Many of these companies later became part of the Seven Sisters, which dominated global petroleum production in the 20th century, and became a majority of today's largest investor-owned oil companies, with most tracing their roots back to Standard Oil. Some descendants of Standard Oil were also given exclusive rights to the Standard Oil name.
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