Tesoro will increase the flow of discount crude to the West Coast by 325 mb/d over the next few years, resulting in lower cost feedstock and improved yields.
The Carson acquisition essentially paid for itself thanks to the associated logistics assets. Not only did Tesoro add cheap capacity, but integration with the Wilmington refinery should lower costs.
Expansion of marketing channels should allow Tesoro to increase sales volumes and run its refineries at higher levels of capacity utilization. The advantage is key in California, which is often oversupplied. Read more
Tesoro's rail/marine project in Washington has faced increasing local opposition. If the project does not receive approval, it would mark a significant setback for Tesoro's improvement plans.
Tesoro should benefit from increased supplies of domestic crude, but its realized discounts will be less than Mid-Continent and Gulf Coast peers while also being most at risk.
Legislation designed to curb carbon emissions may target refiners and result in higher costs and significant capital requirements. Read more
Greg Goff has served as CEO since 2010. Goff previously served as a senior vice president for the commercial segment at ConocoPhillips COP. He brings extensive experience to the position after serving in various roles throughout ConocoPhillips' global Read more
Tesoro is engaged in the refining and retail marketing of refined petroleum products. The company operates seven refineries with a total crude oil capacity of 850,000 barrels Read more
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