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.
“2014 was a pivotal year for Tesoro. We achieved our best safety record for the Company and we made significant strides in the implementation of Shared Value - a systematic approach to making business decisions that create value not only for our business, but also for our stakeholders,” said Greg Goff Chairman, President and Chief Executive Officer.
Highlights in 2014 include:
- Safety: Tesoro had the best safety record yet for our Company in 2014. It beat its own safety targets – for both personal and process safety – and also performed better than industry averages.
- Oil spill prevention and response: Tesoro is committed to environmental stewardship. Last year, Tesoro conducted more than 30 emergency response drills to test and refine its preparedness plans and has achieved a significant percent decrease in spill volume in 2014. Looking ahead, Tesoro will continue to invest in additional training and new tools and technologies to enhance its emergency response process.
- Air emissions: In 2014, Tesoro reduced air emissions such as NOX, SOX and particulates by 11 percent compared to 2013, while its greenhouse gas emissions have increased. The Company aims to improve this performance through efficiency programs and with projects such as the Los Angeles Refinery Integration and Compliance project.
The Social Responsibility Report is an annual report that focuses on Company policies and programs that keep employees and communities safe to increase transparency and take accountability for Company goals. The report outlines the progress made in four key areas: safety, community, environment and people.
The 2014 Social Responsibility Report is available on the web at www.tsocorp.com/responsibility. Print versions are available by contacting email@example.com. A summary report will also be available in the coming weeks.
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 of over 850,000 barrels per day and ownership in a logistics business which includes a 36% interest in Tesoro Logistics LP (NYSE:TLLP) and ownership of its general partner. Tesoro's retail-marketing system includes over 2,265 retail stations under the ARCO®, Shell®, Exxon®, Mobil®, USA Gasoline™ and Tesoro® brands.
This release contains certain statements that are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements concerning planned future investments in training and technologies to enhance the emergency response process and plans to improve future performance for reduced air emissions. For more information concerning factors that could affect these statements see Tesoro's and TLLP's annual reports on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. We undertake no obligation to publicly release the result of any revisions to any such forward-looking statements that may be made to reflect events or circumstances that occur, or which we become aware of, after the date hereof.
Tesoro Media Relations, firstname.lastname@example.org, (210) 626-7702
Sam Ramraj, Vice President, Investor Relations, (210) 626-4757