Tesoro Corporation : Tesoro Introduces Exxon and Mobil Brands to its
Multi-Branded Retail Network
SAN ANTONIO - June 27, 2013 - Tesoro Corporation (NYSE:TSO) announced today
that it has secured the rights from ExxonMobil to use the Exxon and Mobil
brands at retail stations in Northern California, Oregon, Western Washington
and Nevada, marketing areas strategically aligned with the Company's West
Coast operations. Tesoro also secured the rights to use the Exxon and Mobil
brands throughout Minnesota, Central/Eastern North Dakota and Northeastern
South Dakota, marketing areas anchored by the Company's refinery in Mandan,
North Dakota. Through this arrangement, Tesoro intends to assume ownership of
branded-wholesale supply contracts for 54 Exxon- or Mobil-branded retail
stations in Minnesota.
"Introducing the well-established Exxon and Mobil brands into our retail
network will allow us to drive further integration between our refining and
marketing businesses with brands known for their quality products and
marketing programs," said Dan Romasko, Executive Vice President of
"This agreement with Tesoro provides consumers the opportunity to benefit from
the reliability of supply from Tesoro along with the strength of the Exxon and
Mobil brands," said John Rhodes, Americas Retail Director for ExxonMobil. "I
am looking forward to working with Tesoro and to the opportunity to expand
ExxonMobil's brand presence in multiple states."
The Minnesota contracts are expected to be transitioned to Tesoro by the end
of 2013, with subsequent market launches expected to begin in 2014.
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
845,000 barrels per day. Tesoro's retail-marketing system includes over 2,200
retail stations under the Tesoro®, Shell®, ARCO® and USA Gasoline(TM) brands,
of which 595 are company operated.
This press 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. These forward-looking
statements include statements concerning the assignment of certain
branded-wholesale supply contracts, future growth in our retail segment and
further integration between our refining and marketing businesses. For more
information concerning factors that could affect these statements see our
annual report 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.
Louie Rubiola, Senior Director, Investor Relations, (210) 626-4355
Tesoro Media Relations, firstname.lastname@example.org, (210) 626-7702
This announcement is distributed by Thomson Reuters on behalf of Thomson
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(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Tesoro Corporation via Thomson Reuters ONE
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