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Tesoro Completes Negotiations at its USW-Represented Locations


SAN ANTONIO, TX - June 7, 2012 - Tesoro Corporation (NYSE:TSO) today announced the successful conclusion of contract negotiations at its Golden Eagle (Martinez, California) refinery.  Golden Eagle was the last of Tesoro's six United Steelworkers (USW) represented refineries to complete negotiations.

"We are pleased this process is now complete and we can continue to deliver our capital projects on schedule," said Greg Goff, President and CEO. "We expect to complete the expansion of our Mandan, North Dakota, refinery by the latter part of this month."

Tesoro's ratified contract at each location is consistent with the terms of the national pattern agreement accepted by the refining industry and the international USW.

About Tesoro
Tesoro Corporation, a Fortune 150 company, is an independent refiner and marketer of petroleum products.  Tesoro, through its subsidiaries, operates seven refineries in the western United States with a combined capacity of approximately 665,000 barrels per day.  Tesoro's retail-marketing system includes 1,215 branded retail stations, of which 425 are company operated under the Tesoro®, Shell® and USA Gasoline(TM) brands.

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