Barclays CEO EnergyPower Conference Thursday, September 8, 2011 Greg Goff President and CEO, Tesoro Corporation
About Tesoro Focused in the western United States Seven refineries 665,000 barrels per day capacity 665 000 b l d i Nearly 1,200 retail stations branded Tesoro, Shell and USA Gasoline Kenai, AK Operate in higher margin markets…
Market Environment Group 3 Crack Spread, /bbl West Coast Crack Spread, /bbl 40 25 Outlook 35 20 30 2011 25 2011 Outlook 15 2010 20 15 10 2010 10 5 5 0 0 Jan Apr Jul Oct Jan Apr Jul Oct Note: Group3 321 crack…
Market Environment Louisiana Light Sweet (LLS), /bbl LLS to Maya, /bbl 130 25 2011 120 Outlook 2011 20 110 Outlook 15 100 2010 90 10 2010 80 5 70 60 0 Jan Apr Jul Oct Jan Apr Jul Oct Light/heavy differential…
Market Environment USGC Diesel to Gasoline Differential, /bbl USGC Diesel to Gasoline Differential, /bbl 14 2011 12 Outlook 10 8 6 4 2 2010 0 2 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 4 6 Global diesel demand…
Strategic Priorities Operational efficiency and effectiveness Safety and reliability y y System improvements Cost leadership Commercial excellence Financial discipline Valuedriven growth Value driven growth Significant…
Deliver on Strategic Priorities Operational Value Commercial Financial Efficiency & Efficiency & Driven Driven ll Excellence Discipline i i li Effectiveness Growth Refinery utilization improved 15% (1) R fi li bilit i d 4%…
2011 Highlights Yeartodate EBITDA 842 million YTD June EBITDA ( in millions) 842 Market improvement 300 million Market Remaining 400 million improvement Refinery utilization increased 15% Gross margin capture improved 11% 279…
Mandan Refinery Expansion Expand capacity from 58 to 68 mbpd 17% increase 17% increase Total cost of 35 million 70 million annual EBITDA* 70 illi l EBITDA* Expected completion by 2Q 2012 Supports growth of Tesoro Logistics…
Bakken Crude Oil Supply to Anacortes Refinery Facility to unload 30 mbpd of Bakken crude oil at Anacortes, p y 25% of capacity Total cost of 50 million 60 million annual EBITDA 60 million annual EBITDA* Expected completion by…
Los Angeles Yield Improvement Vacuum Distillation Unit replacement Total cost of 40 million 25 million annual EBITDA 25 million annual EBITDA* Expected completion by 3Q 2012 Reduce greenhouse gas emissions Product yield…
Tesoro Logistics LP Successfully executed public offering in April 2011 Captures value of embedded logistics assets Creates strategic vehicle for growth Improves cost of capital Supports Supports refining and marketing…
Refining & Marketing Integration Refining and marketing integration up approximately 43%((1)) up approximately 43% Three retail transactions Sh ll 14 b d Shell, 14 mbpd (2) SUPERVALU, 5 mbpd (2) Thrifty 25 30 mbpd Thrifty,…
Financial Discipline Repurchased 326 million in debt yeartodate* 150 million Junior Subordinated Notes due 2012 176 million Senior Unsecured Notes Reduced Total Debt to Total Capitalization to under 30% Down more than 8% from 38%…
Delivering & Exceeding Expectations Delivering operating improvements Capturing market strength Executing disciplined capital plan Executing disciplined capital plan Delivering growth objectives Exceeding delevering plan with…
Loading...
