Tesoro's Nikiski refinery, its first, just celebrated its 35th anniversary and reports strong financial results in 2004.
Clarion file photo by M. Scott M
One of the largest independent petroleum refiners and marketers in the Western U.S., Tesoro Corp. is reporting strong financial results for 2004 with a $400 million reduction in debt and increased shareholder value.
In Alaska, Tesoro says it wants to be the fuel of choice for Alaska consumers, and the company will target its business growth, both at its Nikiski refinery and within retail operations, to meet the growing fuels needs of those consumers in a safe, reliable and environmentally conscious manner.
Tesoro's marketing program, "free-fillin'," continues to be a successful and popular consumer program, according to Steve Hansen, refining vice president. Tesoro will continue the program in 2005 with expanded benefits such as double airline miles with Northwest Airlines and the addition of earning Hawaiian Airline miles.
The program allows regular customers to collect Tesoro stamps for every eight gallons of gasoline purchased. Each time eight stamps are collected, customers receive either a set dollar amount off their next gasoline purchase or airline miles on Alaska Airlines, Northwest and Hawaiian.
In addition to gasoline marketing, Tesoro also manufactures petroleum products at its Nikiski refinery, which employs 176 people. The refinery has a design capacity of 70,000 barrels per day, and the average daily throughput during 2004 was 57,000 barrels.
In 2004, North Slope crude oil accounted for 50 percent of the refinery's production, 40 percent came from Cook Inlet and other crude oil amounted to 10 percent. From the inlet, the refinery receives and processes crude oil from Forest Oil Company's Osprey platform.
"Tesoro's 2004 capital ex-penditures were $6.25 million and targeted sustaining investment to maintain the current capabilities for continued safe and reliable refinery operations," Hansen said. "Tesoro had a successful year in 2004 and is proud to be a business partner within the Kenai Peninsula community and the state of Alaska."
Tesoro at a Glance
Company headquarters: San Antonio, Texas
Tesoro Alaska President: Steve Hanson
Tesoro Alaska office: (800) 478-4447
Number of employees: 176 at Nikiski refinery
2004 production: 57,000 barrels a day
Nikiski refinery: 776-8191
Web site: www.tesoropetroleum.com
Company outlook: Tesoro will continue to have a long-term refining and marketing presence on the Kenai Peninsula, as well as in the state of Alaska, supplying Alaska's consumers with reliable, high-quality fuels.
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