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2015 News Releases

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Dec 9, 2015Tesoro to Outline Strategic Initiatives and Growth Strategies at Analyst and Investor Day
NEW YORK, December 9, 2015, Tesoro Corporation (NYSE:TSO) ("Tesoro") will host its annual Analyst and Investor Day today to outline its strategic initiatives, growth plans and detailed financial objectives. "Tesoro has a proven track record of delivering on our commitments. We are on track to report record results for 2015. Further, we expect $400 million to $500 million of business improvements in 2016," said Greg Goff, Tesoro Chairman, President and CEO. "By focusing ... 
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Dec 8, 2015Tesoro to Acquire Strategic Logistics Assets in the Bakken
SAN ANTONIO, Texas, December 7, 2015 - Tesoro Corporation (NYSE: TSO) ("Tesoro") has agreed to acquire Great Northern Midstream LLC ("Great Northern Midstream"), a crude oil logistics provider which owns and operates high-quality, recently constructed crude oil pipeline, gathering system, transportation, storage and rail loading facilities in the Williston Basin of North Dakota. The transaction includes the 97-mile BakkenLink crude oil pipeline, which connects to several th... 
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Nov 23, 2015Tesoro to acquire Flint Hills Resources' marketing and logistics assets in Alaska
SAN ANTONIO, Texas, November 23, 2015 - Tesoro Corporation (NYSE: TSO), through its affiliate Tesoro Alaska Company LLC, has agreed to acquire Flint Hills Resources' (FHR) wholesale marketing and logistics assets in Anchorage and Fairbanks, Alaska. "This investment represents our commitment to efficiently and reliably serve customers in the state of Alaska," said Greg Goff, Chairman, President and Chief Executive Officer of Tesoro Corporation. "We have been a part of the Alaska ... 
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Nov 12, 2015Tesoro Corporation Sells Los Angeles Storage and Pipeline Assets to Tesoro Logistics
SAN ANTONIO - November 12, 2015 - Tesoro Corporation (NYSE:TSO, Tesoro) and Tesoro Logistics LP (NYSE:TLLP) today announced that subsidiaries of Tesoro have closed the sale of crude oil and refined product storage and pipeline assets in Los Angeles, California (the "Los Angeles Refinery Storage and Handling Assets") to TLLP for a total consideration of $500 million. TLLP acquired 97 crude oil, feedstock and refined product storage tanks with combined capacity of 6.6 million barrels and... 
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Nov 10, 2015Tesoro Corporation Reaches Agreement to Sell the Los Angeles Storage and Pipeline Assets to Tesoro Logistics
SAN ANTONIO - November 10, 2015 - Tesoro Corporation (NYSE:TSO, Tesoro) and Tesoro Logistics LP (NYSE:TLLP) today announced that subsidiaries of Tesoro have agreed upon terms for the sale of crude oil and refined product storage and pipeline assets in Los Angeles, California (the "Los Angeles Refinery Storage and Handling Assets") to TLLP for a total consideration of $500 million. The assets include 97 crude oil, feedstock and refined product storage tanks with combined capacity of 6.6... 
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Oct 29, 2015Tesoro Corporation Announces Quarterly Cash Dividend
SAN ANTONIO - October 29, 2015 - Tesoro Corporation (NYSE:TSO) announced today that its board of directors declared a dividend of $0.50 per share on common stock. The dividend is payable on December 15, 2015, to shareholders of record as of the close of business November 30, 2015. Tesoro Corporation, a Fortune 100 company, is an independent refiner and marketer of petroleum products. Tesoro, through its subsidiaries, operates six refineries in the western United States with a combined capacity ... 
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Oct 28, 2015Tesoro Corporation Reports Record 2015 Third Quarter Results
Tesoro Corporation Reports Record 2015 Third Quarter Results Record net earnings from continuing operations of $759 million, or $6.13 per diluted share Adjusted earnings were $802 million, or $6.48 per diluted share, excluding special items Returned $287 million to shareholders and paid down $398 million of secured debt S&P places both Tesoro and Tesoro Logistics on positive outlook Board approves new $1.0 billion share repurchase program Delivered over $500 million of business impro... 
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Oct 7, 2015Tesoro Corporation to Release Third Quarter Earnings
SAN ANTONIO - October 7, 2015 - Tesoro Corporation (NYSE:TSO) plans to release its earnings for the third quarter 2015 after the market closes on Wednesday, October 28, 2015. The Company will broadcast, live, its conference call with analysts regarding third quarter results and other business matters on Thursday, October 29, 2015, at 7:30 a.m. CT. Interested parties may listen to the live conference call over the Internet by logging on to www.tsocorp.com. Tesoro Corporation, a Fortune 100 compa... 
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Sep 17, 2015Vancouver Energy Emphasizes Crude Oil-By-Rail Safety With Tesoro’s New Rail Cars
New Poll Reveals More Than Two-Thirds of Clark County Residents Support Development of the Vancouver Energy Terminal VANCOUVER, Wash., Sept. 17, 2015 (GLOBE NEWSWIRE) -- Tesoro Corporation (NYSE:TSO), along with Savage and BNSF Railway, today gave local business leaders an opportunity to observe and learn about the enhanced safety features of Tesoro’s new DOT 120 crude oil rail cars at the Port of Vancouver USA. ... 
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Aug 19, 2015Tesoro Releases Its 2014 Social Responsibility Report
Company Outlines Its Progress in Social and Environmental Performance SAN ANTONIO, Aug. 19, 2015 (GLOBE NEWSWIRE) -- Tesoro Corporation (NYSE:TSO) today released its 2014 Social Responsibility Report that outlines the Company’s performance, approach and commitment to social and environmental responsibility. The report demonstrates Tesoro’s commitment to operating in a responsible manner while creating shared value for shareholders, employees, customers and the communities where it operates. ... 
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Aug 5, 2015Tesoro Corporation Reports 2015 Second Quarter Record Results
Record second quarter net earnings from continuing operations of $586 million, or $4.62 per diluted share Approved a 18% increase to regularly quarterly dividend to $0.50 per share Returned over $300 million to shareholders in the second quarter Delivered over $325 million of business improvements in the first half of 2015 Company on target to achieve business improvements of approximately $670 million for 2015 Expects to offer drop down to TLLP of $50 million to $75 million of EBITDA... 
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Jul 20, 2015Tesoro Foundation awards $200,000 grant to support San Antonio Prefreshman Engineering Program
(San Antonio, July 16, 2015) -- The San Antonio-based Tesoro Foundation has made a two-year, $200,000 grant to the San Antonio Prefreshman Engineering Program (PREP), according to a joint announcement by Tesoro Corporation (NYSE:TSO) and The University of Texas at San Antonio (UTSA). The grant will support PREP to provide services to 1,500 students in the San Antonio area each year. Manuel Berriozabal, a retired mathematics professor, established PREP in 1979 at UTSA. Since that time... 
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Jul 6, 2015Tesoro Corporation to Release Second Quarter Earnings
SAN ANTONIO - July 6, 2015 - Tesoro Corporation (NYSE:TSO) plans to release its earnings for the second quarter 2015 after the market closes on Wednesday, August 5, 2015. The Company will broadcast, live, its conference call with analysts regarding second quarter results and other business matters on Thursday, August 6, 2015, at 7:30 a.m. CT. Interested parties may listen to the live conference call over the Internet by logging on to www.tsocorp.com. Tesoro Corporation, a Fortune 100 company, i... 
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May 18, 2015Tesoro Exceeds New Federal Crude Oil Tank Cars Standards With Addition of Enhanced Rail Cars
SAN ANTONIO, Texas, May 18, 2015 (GLOBE NEWSWIRE) -- Tesoro Corporation (NYSE:TSO) announced today that Tesoro Refining & Marketing Company LLC (Tesoro) is upgrading its crude oil rail car fleet with the addition of 210 enhanced tank cars that exceed new safe transport standards issued by the U.S. Department of Transportation (USDOT) on May 1. Tesoro worked with Union Tank Car Company (UTLX) beginning in February of last year to develop a rail car expected to meet or exceed forthcoming re... 
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May 7, 2015Tesoro Corporation Reports 2015 First Quarter Results
First Quarter net earnings of $145 million, or $1.15 per diluted share Excluding special items, adjusted earnings were $124 million, or $0.98 per diluted share TLLP reported adjusted EBITDA of $168 million with strong contributions from the Rockies natural gas business Tesoro expects to achieve its 2015 plan to deliver $550 million to $670 million of business improvements SAN ANTONIO - May 7, 2015 - Tesoro Corporation (NYSE:TSO) today reported first quarter 2015 net earnings of $145 mil... 
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Apr 22, 2015Tesoro Corporation Pre-Releases First Quarter 2015 Earnings and Affirms Second Quarter and Full Year Guidance for 2015
SAN ANTONIO - April 22, 2015 - Tesoro Corporation (NYSE:TSO) today reported first quarter 2015 net earnings of $145 million or $1.15 per diluted share compared to net earnings of $78 million or $0.58 per diluted share for the first quarter of 2014.  Adjusted earnings for the first quarter, excluding a net benefit from special items of $21 million after tax, were $124 million or $0.98 per diluted share.  Adjusted EBITDA for the first quarter, excluding special items, was $489 million compared to ... 
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Apr 1, 2015Tesoro Corporation to Release First Quarter Earnings
SAN ANTONIO - April 1, 2015 - Tesoro Corporation (NYSE:TSO) plans to release its earnings for the first quarter 2015 after the market closes on Thursday, May 7, 2015. The Company will broadcast, live, its conference call with analysts regarding first quarter results and other business matters on Friday, May 8, 2015, at 7:30 a.m. CT. Interested parties may listen to the live conference call over the Internet by logging on to www.tsocorp.com. Tesoro Corporation, a Fortune 100 company, is an indep... 
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Mar 27, 2015Tesoro Corporation Begins Restart of Martinez Refinery and Updates First Quarter Guidance
SAN ANTONIO - March 27, 2015 - Tesoro Corporation (NYSE:TSO) today announced that the Martinez, California refinery has begun the restart process. "We are pleased to have reached an agreement with the local union at our Martinez, California refinery and are commencing the restart process today," said Greg Goff, Chairman and CEO.  "The facility should be back to normal operating levels over the next two weeks." The Martinez, California refinery was in the final stages of major... 
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Feb 17, 2015Tesoro Corporation Board of Directors Approves Two Projects at the Anacortes Refinery
SAN ANTONIO - February 17, 2015 - Tesoro Corporation (NYSE:TSO) today announced that its Board of Directors has approved two complementary projects to enhance clean products production at its Anacortes, Washington refinery. These projects include a $90 million naphtha isomerization project, which is designed to comply with upcoming reduced-sulfur gasoline regulations while simultaneously reducing gasoline production costs, and the previously announced $300 million mixed xylenes project, which up... 
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Feb 11, 2015Tesoro Corporation Reports 2014 Fourth Quarter and Record Full Year Results
Record all-time high full year net earnings from continuing operations of $872 million, or $6.67 per diluted share; excluding special items adjusted earnings were $887 million, or $6.79 per diluted share Fourth Quarter net earnings from continuing operations of $172 million, or $1.34 per diluted share; excluding special items adjusted earnings were $187 million, or $1.46 per diluted share Approved a 40% increase to regular quarterly dividend to $0.425 per share Successful close of the $2.5 bil... 
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Feb 2, 2015Tesoro Well Prepared to Safely Continue Refinery Operations and Meet Customer Commitments Following Strike by United Steelworkers
SAN ANTONIO - February 2, 2015 - Tesoro Corporation (NYSE:TSO) ("Tesoro" or the "Company") announced today that the Company intends to continue operating two refineries impacted by the United Steelworkers union (the "USW") decision to strike. Tesoro is confident that the Company can continue to safely operate the refineries and meet customer commitments until resolution is reached with the USW. Tesoro received strike notifications at its refineries in Anacortes, Wa... 
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Jan 5, 2015Tesoro Corporation to Release Fourth Quarter Earnings
SAN ANTONIO - January 5, 2015 - Tesoro Corporation (NYSE:TSO) plans to release its earnings for the fourth quarter 2014 after the market closes on Wednesday, February 11, 2015. The Company will broadcast, live, its conference call with analysts regarding fourth quarter results and other business matters on Thursday, February 12, 2015, at 7:30 a.m. CT. Interested parties may listen to the live conference call over the Internet by logging on to www.tsocorp.com. Tesoro Corporation, a Fortune 100 c... 
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