Retailer and distributor of petroleum products. The company owns a refinery, which can process up to 94,000 barrels of crude oil per day.
The staff at Tesoro come from unusually diverse demographic backgrounds. The company is 41.5% female and 46.0% ethnic minorities. The diversity in Tesoro employees extends to employee political beliefs. Its employees are politically diverse and represent a balanced blend of political orientations, with 50.6% Democrats and 46.8% Republicans. Despite their political differences, employees at Tesoro seem to be happy. The company has great employee retention with staff members usually staying for 3.9 years.
Based in San Antonio, TX, Tesoro is an industry leader with 14,300 employees and an annual revenue of $35.0B.
Tesoro was founded in 1968 by Dr. Robert V. West Jr, and was primarily engaged in petroleum exploration and production. Tesoro is the word for treasure (or treasury) in Italian and Spanish. In 1969, Tesoro began operating its first refinery, near Kenai, Alaska. Tesoro became the first Fortune 500 company to be headquartered in San Antonio, Texas.
Beginning in the late 1990s, Tesoro grew through a series of acquisitions and initiatives that created Tesoro Corporation, the company focusing on a single core business: petroleum refining and marketing. Acquisitions expanded refining capacity from 72,000 barrels per day (11,400 m3/d) to approximately 664,000 barrels per day (105,600 m3/d).
Prior to its acquisition by Marathon Petroleum in 2018, Tesoro was the third-largest independent petroleum refining and marketing company in the United States.
