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2017 News Releases

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Sep 11, 2017Andeavor Honors Top Suppliers
SAN ANTONIO - September 10, 2017 - Andeavor (NYSE: ANDV) is pleased to announce the recipients of its annual Supplier Recognition Awards, selected for outstanding performance in alignment with Andeavor's Guiding Principles. Andeavor presented awards to suppliers in various categories, including: Supplier of the Year Safety Innovation and Value Delivery Shared Value Small, Disadvantaged or Diverse Business of the Year Award recipients were chosen for exceptional performance during the 2016 ... 
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Aug 29, 2017Andeavor Opens First ARCO® Station in Mexico
Andeavor Opens First ARCO® Station in Mexico SAN ANTONIO, TEXAS - August 29, 2017 - Andeavor (NYSE: ANDV) today announced that it has officially begun operating in Mexico and has successfully opened the first ARCO® station in Tijuana, Baja California, Mexico. As announced in July, Andeavor and Profesional Fuels Solutions, S.A. de C.V. (ProFuels) have an established wholesale marketing agreement and have outlined plans to expand the ARCO® brand to achieve a leading market position in the Mexican... 
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Aug 14, 2017Andeavor Announces Merger of its MLPs and Financial Repositioning of Andeavor Logistics through IDR Buy-In
Andeavor Logistics to acquire Western Refining Logistics in a unit-for-unit transaction for a total enterprise value of $1.8 billion, including net debt 0.5233x exchange ratio for WNRL public unitholders 0.4639x effective exchange ratio for Andeavor's WNRL units 0.4921x effective blended exchange ratio 78.0 million ANDX common units to be issued to Andeavor in exchange for the cancellation of IDRs, representing total equity value of: $3.8 billion based on Andeavor Logistics previous... 
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Aug 11, 2017Andeavor Announces Development of Conan Crude Oil Gathering Pipeline System in Delaware Basin
SAN ANTONIO, TEXAS - August 11, 2017 - Andeavor (NYSE:ANDV) is pleased to announce that it received sufficient commitments from third party shippers to warrant construction of the Conan Crude Oil Gathering Pipeline system in the Delaware Basin. As previously announced, the Conan Crude Oil Gathering Pipeline system will be approximately 130 miles in length and transport crude oil from origins in Lea County, New Mexico and Loving County, Texas to a terminal to be constructed in Loving County, Te... 
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Aug 8, 2017Andeavor Reports Second Quarter 2017 Results
Andeavor reported earnings of $40 million, or $0.31 per diluted share, consolidated net earnings of $87 million and EBITDA of $470 million Results include a pre-tax expense of $209 million related to a LCM inventory adjustment, pre-tax acquisition and integration costs of $124 million, additional non-deductible tax expense of $12 million and a net pre-tax gain of $20 million related to Andeavor Logistics Closed acquisition of Western Refining on June 1, 2017; integration progressing and cur... 
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Aug 1, 2017Tesoro Corporation and Tesoro Logistics LP Become Andeavor and Andeavor Logistics LP
SAN ANTONIO - August 1, 2017 - Tesoro Corporation and Tesoro Logistics LP today announced that the Companies changed their names to Andeavor (NYSE: ANDV) and Andeavor Logistics LP (NYSE: ANDX). The Companies will begin trading under their new ticker symbols upon today's opening of the New York Stock Exchange (NYSE). The Companies' previous ticker symbols, TSO and TLLP, have been retired. "Our name change to Andeavor acknowledges the significant progress we have made in transforming the Co... 
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Jul 25, 2017Tesoro to Launch the ARCO® Brand in Mexico
SAN ANTONIO, TEXAS - July 25, 2017 - Tesoro Corporation (NYSE: TSO), to become Andeavor on Aug. 1, 2017, today announced it has reached a definitive agreement that will enable the company to supply transportation fuels and launch the ARCO brand in the states of Sonora and Baja California, Mexico. This agreement allows Profesional Fuels Solutions, S.A. de C.V. (ProFuels) to begin wholesale marketing operations in Mexico under the ARCO brand. The ARCO brand provides value to consumers through it... 
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Jul 18, 2017Tesoro to Begin Operating in Mexico
SAN ANTONIO, TEXAS - July 18, 2017 - Tesoro Corporation (NYSE: TSO), to become Andeavor on August 1, 2017, today announced it has reached a definitive agreement with Petróleos Mexicanos (Pemex) for terminaling and transportation services in Mexico. The agreement will enable Tesoro to supply transportation fuels in the Mexican states of Sonora and Baja California.  Earlier this summer, Tesoro was awarded capacity in the Open Season for Northwest Mexico on the Pemex oil products pipeline and stor... 
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Jul 6, 2017Tesoro Corporation to Release Second Quarter 2017 Earnings
SAN ANTONIO - July 6, 2017 - Tesoro Corporation (NYSE:TSO) plans to release its earnings for the second quarter 2017 after the market closes on Tuesday, August 8, 2017. The Company will live broadcast its conference call with analysts regarding second quarter results and other business matters on Wednesday, August 9, 2017 at 7:30 a.m. CT. Interested parties may listen to the conference call by logging on to www.tsocorp.com. Tesoro Corporation, soon to become Andeavor, is an independent refiner ... 
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Jun 14, 2017Tesoro Corporation to Participate in the Wells Fargo West Coast Energy Conference
SAN ANTONIO - June 14, 2017 - Tesoro Corporation (NYSE: TSO) announced today that Greg Goff, Chairman, President and Chief Executive Officer and the Investor Relations team will participate in the Wells Fargo West Coast Energy Conference on Tuesday, June 20, 2017 in San Francisco. Investor materials to be used during this conference will be available on Tesoro's website on the investor relations section at www.tsocorp.com. Tesoro Corporation, soon to become Andeavor, is an independent refiner... 
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Jun 5, 2017Tesoro Achieves Investment Grade Credit Rating with Standard & Poor's Upgrade
SAN ANTONIO, TEXAS - June 5, 2017 - Tesoro Corporation (NYSE: TSO) announced today that S&P Global Ratings raised the Company's corporate credit and senior unsecured issue ratings to "BBB-" with a stable outlook from "BB+". S&P indicated "the stable outlook reflects our expectation that Tesoro will successfully integrate the Western Refining acquisition, continue to drive operational improvements and enhance margins at its refineries, while not meaningfully incre... 
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Jun 1, 2017Tesoro and Tesoro Logistics Elect New Members to their Boards of Directors
SAN ANTONIO - June 1, 2017 - Tesoro Corporation (NYSE: TSO) ("Tesoro") and Tesoro Logistics LP (NYSE: TLLP) ("Tesoro Logistics") announced that they have elected new members to their respective Boards of Directors. Tesoro elected two new members to its Board of Directors: Paul L. Foster and Jeff A. Stevens. Tesoro Logistics elected Mr. Stevens to its Board of Directors. Mr. Foster and Mr. Stevens are former directors and executive officers of Western Refining, which was acqui... 
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Jun 1, 2017Tesoro Completes Acquisition of Western Refining; Provides Additional Information on Combined Operations and Synergies
SAN ANTONIO, TEXAS - June 1, 2017 - Tesoro Corporation (NYSE: TSO) ("Tesoro") and Western Refining, Inc. (NYSE: WNR) ("Western") announced today that Tesoro has completed its acquisition of Western for a total consideration of approximately $5.8 billion. The strategic combination of the two companies brings together refining, marketing and logistics businesses that form a powerful, integrated value chain with significant marketing and logistics growth opportunities in key are... 
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Jun 1, 2017Tesoro Corporation and Tesoro Logistics LP Announce New Names
SAN ANTONIO - June 1, 2017 - Tesoro Corporation (NYSE: TSO) and Tesoro Logistics LP (NYSE: TLLP) today announced the Companies will change their names to Andeavor and Andeavor Logistics LP, respectively, on Aug. 1, 2017. The Companies also unveiled new logos and ticker symbols. "We are announcing a new name to reflect the Company's ongoing transformation," said Greg Goff, Chairman, President and CEO. "The change to Andeavor acknowledges the significant progress we've made in becom... 
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May 24, 2017Tesoro Announces Expected Closing Date for Western Refining Acquisition and Election Deadline
SAN ANTONIO, TEXAS - May 24, 2017 - Tesoro Corporation (NYSE: TSO) today announced that the waiting period applicable to its proposed acquisition of Western Refining pursuant to the Hart Scott Rodino (HSR) Act has terminated. This satisfies one of the final conditions to the closing of the pending acquisition. Tesoro therefore expects the closing of the acquisition to occur on June 1, 2017, subject to the satisfaction or waiver of the remaining customary conditions to closing. ANNOUNCEMENT OF T... 
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May 24, 2017EP Energy and Tesoro Announce Drilling Joint Venture in the Uinta Basin
HOUSTON and SAN ANTONIO, May 24, 2017 /PRNewswire/ -- EP Energy Corporation (NYSE:EPE) and Tesoro Corporation (NYSE: TSO) announced the formation of a drilling joint venture, through respective subsidiaries, to fund oil and natural gas development in EP Energy's Altamont program located in the Uinta Basin of Utah. Additionally, EP Energy and Tesoro signed a multi-year Crude Oil Supply Agreement for yellow and black waxy crude oil to supply Tesoro's Salt Lake City Refinery. Drilling Joint Vent... 
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May 8, 2017TESORO CORPORATION REPORTS FIRST QUARTER 2017 RESULTS
Net earnings from continuing operations of $50 million, or $0.42 per diluted share, consolidated net earnings of $87 million and EBITDA of $423 million Logistics operating income grew 26% year-over year to $150 million Acquisition of Western Refining, Inc. approved by stockholders of both companies; transacti... 
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May 4, 2017Tesoro Corporation to Participate in the Morgan Stanley Refining Corporate Access Day
(GLOBE NEWSWIRE via COMTEX) --SAN ANTONIO - May 4, 2017 - Tesoro Corporation (NYSE: TSO) announced today that Steven Sterin, Executive Vice President and Chief Financial Officer and Sam Ramraj, Vice President Investor Relations, will participate in the Morgan Stanley Refining Corporate Access Day on Thursday, May 11, 2017 in New York City. Investor materials to be used during this presentation will be available on Tesoro's website on the investor relations section at www.tsocorp.com. Tesor... 
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May 4, 2017Tesoro Corporation to Participate in the Citi Global Energy & Utilities Conference
(GLOBE NEWSWIRE via COMTEX) --SAN ANTONIO - May 4, 2017 - Tesoro Corporation (NYSE: TSO) announced today that Steven Sterin, Executive Vice President and Chief Financial Officer and Sam Ramraj, Vice President Investor Relations, will participate in the Citi Global Energy & Utilities Conference on Wednesday, May 10, 2017 in Boston. Steven Sterin will present at the conference. Investor materials to be used during this presentation and a live webcast will be available concurrent with the pr... 
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Apr 10, 2017Tesoro Corporation to Release First Quarter 2017 Earnings
SAN ANTONIO - April 10, 2017 - Tesoro Corporation (NYSE:TSO) plans to release its earnings for the first quarter 2017 after the market closes on Monday, May 8, 2017. The Company will live broadcast its conference call with analysts regarding first quarter results and other business matters on Tuesday, May 9, 2017 at 7:30 a.m. CT. Interested parties may listen to the conference call by logging on to www.tsocorp.com. Tesoro Corporation, a Fortune 100 company, is an independent refiner and markete... 
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Mar 24, 2017Tesoro and Western Refining Stockholders Approve Acquisition of Western Refining by Tesoro
SAN ANTONIO, TEXAS - March 24, 2017 - Stockholders of both Tesoro Corporation (NYSE: TSO) and Western Refining, Inc. (NYSE: WNR) today voted to approve Tesoro's expected acquisition of Western Refining. At separate special stockholders' meetings, Tesoro stockholders approved the issuance of shares of Tesoro common stock in connection with the expected acquisition, and stockholders of Western Refining approved the adoption of the previously disclosed agreement and plan of merger.                 ... 
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Feb 14, 2017Tesoro Corporation to Participate in the Simmons & Company 17th Annual Energy Conference
SAN ANTONIO - February 14, 2017 - Tesoro Corporation (NYSE: TSO) announced today that Cynthia "C.J." Warner, Executive Vice President, Operations and Evan Barbosa, Investor Relations Manager, will participate in the Simmons & Company Annual Energy Conference on Thursday, March 2, 2017 in Las Vegas, NV. C.J. Warner will participate on a panel at the conference at 8:00 AM, Pacific Time.  Tesoro Corporation, a Fortune 100 company, is an independent refiner and marketer of petroleum pr... 
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Feb 14, 2017Tesoro Corporation to Participate in the Bank of America Merrill Lynch Refining Conference
SAN ANTONIO - February 14, 2017 - Tesoro Corporation (NYSE: TSO) announced today that Steven Sterin, Executive Vice President and Chief Financial Officer and Sam Ramraj, Vice President Investor Relations, will participate in the Bank of America Merrill Lynch Refining  Conference on Thursday, March 2, 2017 in New York City. Steven Sterin will present at the conference at 10:50 AM, Eastern Time.  Investor materials to be used during this presentation and a live webcast will be available concurrent... 
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Feb 6, 2017TESORO CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR 2016 RESULTS
Fourth quarter net earnings from continuing operations of $78 million, or $0.66 per diluted share, consolidated net earnings of $101 million and EBITDA of $468 million Full year net earnings from continuing operations of $724 million, or $6.04 per diluted share, consolidated net earnings of $860 million and EBITDA of $2.4 billion Full year Logistics operating income grew 24% from last year to $487 million Marketing operating income for 2016 was $830 million; total branded stations increas... 
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Jan 16, 2017Tesoro Corporation to Release Fourth Quarter and Full Year 2016 Earnings
SAN ANTONIO - January 16, 2017 - Tesoro Corporation (NYSE:TSO) plans to release its earnings for the fourth quarter and full year 2016 after the market closes on Monday, February 6, 2017. The Company will live broadcast its conference call with analysts regarding fourth quarter and full year results and other business matters on Tuesday, February 7, 2017 at 7:30 a.m. CT. Interested parties may listen to the conference call by logging on to www.tsocorp.com . Tesoro Corporation, a Fortune 100 com... 
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