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The largest oil refiner & gas station operator in the western United States: Andeavor (ANDV)-delisting (1968)

Andeavor (NYSE:ANDV) was founded in 1968, formerly known as Tesoro Corporation (formerly NYSE:TSO, formerly known as Tesoro Petroleum Corporation, changed to Tesoro Corporation in November 2004), in August 2017 It changed to its current name, headquartered in San Antonio, Texas, with 14,300 full-time employees. It is an independent refiner, the largest refinery in the western United States, and one of the largest chain gas station operators in the United States.

Update:

On April 30, 2018, Marathon Petroleum acquired competitor Andeavor (formerly known as Tesoro Petroleum Corporation) for US$23 billion in shares and cash. The combined company will become one of the world’s largest refiners.

Andeavor

Andeavor (ANDV):

Andeavor (ANDV) [formerly Tesoro Corporation] integrates petroleum exploration, natural gas exploration, refining business, warehousing, petroleum sales, and retail businesses. Tesoro Corporation engages in petroleum refining and marketing activities in the United States through its subsidiaries.

Andeavor’s business scope has three parts: oil refining, Tesoro Logistics LP (TLLP) and marketing.

1. Refining sector : to refine crude oil and other raw materials into transportation fuels, such as gasoline, gasoline mixed raw materials, jet fuel, diesel fuel, and other products, including heavy fuel oil, liquefied petroleum gas, petroleum coke, calcined coke and asphalt . This part also sells refined oil in the wholesale market, mainly through independent non-branded distributors; the bulk market in the western United States is mainly independent non-branded distributors, other refining and sales companies, utilities, railways, aviation, ships And industrial end users. Owns and operates 10 refineries, with a combined daily crude oil output of approximately 1.157 million barrels.

2. TLLP department : owns and operates approximately 650 miles of crude oil, natural gas and production water collection pipelines; natural gas processing and fractionation facilities.

3. Marketing department: Sell gasoline and diesel through retail outlets and third-party distributors. As of December 31, 2017, the department operated 3,255 gas stations under the ARCO, Shell , Mobil and SUPERAMERICA brands.

Tesoro and its subsidiaries are dedicated to refining and marketing petroleum products in the United States. The company operates two major businesses: refining and retail. The refining business mainly manufactures and sells gasoline and gasoline blended products, jet engine fuel, diesel fuel and heavy oil for commercial users in the central and western United States. This business also involves natural gas liquefaction, petroleum coke and asphalt manufacturing. The retail business involves the distribution of engine fuel to wholesalers and retail customers, and sales to commercial end users through a network of gas stations mainly named “Tesoro” and “Mirastar”. In addition, the company sells gasoline and diesel fuel to retail customers in the central and western United States through its retail stations and franchise stores. In 2004, the company name was changed from the well-known Tesoro Petroleum Corporation to the current Tesoro Corporation.

Tesoro Corp (TSO) History:

  • 1968: Dr. Robert V. West Jr founded Tesoro;
  • 1998: Tesoro acquired a refining and chemical company from BHP Americas and at the same time the former Shell’s refining and chemical plant in Anacortes, Washington;
  • 1999: Tesoro Petroleum Company sells oil exploration and production business;
  • 2001: Tesoro acquired its refineries in Mandan, North Dakota and Salt Lake City, Utah from Amoco;
  • 2002: Tesoro Petroleum Company acquired its Golden Eagle Refinery in Martinez, California from Ultramar;
  • 2003: Sale of Tesoro Marine Services to Martin Midstream LLC;
  • 2007: Announced the acquisition of Shell’s refinery in Los Angeles and 250 retail stores (gas stations) in Southern California;
  • 2007: Tesoro acquired USA Gasoline;
  • 2011: Tesoro Petroleum Company established Tesoro Logistics LP (TLLP);
  • 2011: Tesoro acquired 250 ARCO and Thrifty Stations in Southern California;
  • 2012: Tesoro Petroleum Company changed the acquired 250 ARCO and Thrifty Stations to USA Gasoline;
  • 2013: Tesoro from BP acquired the Carson Refinery and ARCO brand BP;
  • 2013: Tesoro Petroleum Company sold its Kapolei refining business to Par Petroleum (now Par Pacific Holdings (AMEX: PARR));
  • In 2016, Tesoro acquired Dakota Prairie Refining in North Dakota from WBI Energy;
  • In 2016, Tesoro agreed to acquire Western Refining (formerly NYSE: WNR) for USD 4.1 billion;
  • From 2016 to 2017, Par Pacific Inc. rebranded its Tesoro and 76 gas stations as Hele brands;
  • In August 2017, Tesoro announced that with the acquisition of Western Refining, the company changed its name to Andeavor;
  • On April 30, 2018, Marathon Petroleum acquired competitor Andeavor, formerly known as Tesoro Petroleum Company, for US$23 billion in shares and cash. The combined company will become one of the world’s largest refiners.

Tesoro Corp (TSO):

Delisted due to acquisition!

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