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Effective Risk Management INTERTANKO Tokyo May 15, 2009

Effective Risk Management INTERTANKO Tokyo May 15, 2009. Charles W. Parks Vice President - Marine Tesoro Corporation. The Tesoro System. Kenai, Alaska 72 mbpd Key product: Jet. Tesoro System Highlights 7 Refineries 664 mbpd total crude capacity Retail network of over 870 sites

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Effective Risk Management INTERTANKO Tokyo May 15, 2009

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  1. Effective Risk ManagementINTERTANKO Tokyo May 15, 2009 Charles W. ParksVice President - Marine Tesoro Corporation

  2. The Tesoro System • Kenai, Alaska • 72 mbpd • Key product: Jet • Tesoro System Highlights • 7 Refineries • 664 mbpd total crude capacity • Retail network of over 870 sites • 5,600 Employees • Martinez, Ca • 166 mbpd • Key products: CARB Gasoline & CARB Diesel • Anacortes, Wa • 120 mbpd • Key product: Gasoline • Mandan, ND • 58 mbpd • Key products: Gasoline & Diesel • Salt Lake City, Utah • 58 mbpd • Key products: Gasoline & Diesel • Los Angeles, Ca • 97 mbpd • Key products: CARB Gasoline & CARB Diesel Calgary Office Auburn Office • Kapolei, Hawaii • 93 mbpd • Key product: Jet Long Beach Office Corporate Office RETAIL BRANDS Singapore Office

  3. Tesoro Today

  4. Tesoro Marine – 2008 Statistics • # of cargo transfers 4,400 • Total barrels moved 315 million • Vessels vetted 740 • Rejection rate 4.1% • Poor SIRE reports • Past experience with vessel/owner • Inadequate mooring system • Spills 3 • Volume spilled Trace

  5. Tesoro Time Chartered Fleet • 2 – Suezmax • 3 – Aframax • 5 – MR’s • 10 – Barges (U.S. West Coast & Hawaii) - All are double hull -

  6. Vetting Importance • Protection of people • Protection of the environment • Financial exposure • Business disruption • Our relationship with stakeholders • Our reputation as a publicly owned company • In Alaska we are the oil spill plan holder

  7. Vetting Importance • We don’t think we know how to operate your tankers better than you do, BUT, • Not all tankers are the same • Not all crews are the same • Not all operators/managers are the same • Not all owners are the same

  8. Vetting Infrastructure • Two tiered vetting system • Corporate level • Local level • Experienced mariners • Captain Tim Plummer – Head of Operations & Vetting • Vetting Superintendent based at Tesoro headquarters (Captain Debra Cobb) • Tesoro Marine Superintendent at each waterborne refinery location • Tesoro Assessment & Ship Clearance (TASC) system • Centralized data capture • Links to SIRE, Q88, LMIU, industry databases • Vessel performance feedback • OCIMF member and SIRE submitting participant

  9. Vetting Process • Vetting requests are submitted in TASC • Detailed review of: • Tesoro Vessel Questionnaire - owners submit questionnaires via Q-88 (www.Q88.com) • Lloyd’s MIU • SIRE • U.S. Coast Guard PSIX • Equasis & Tokyo MOU • Internal Facility Feedback & Facility specific acceptability • Draft, mooring, KTM, DWT, LOA, Beam, etc.

  10. Vetting Process • Facility specific recommendation is made to approve or reject • Final determination to approve or reject is made and sent to requestor

  11. General Criteria • Key criteria in Tesoro system • Hawaii SPM (official dwt, BMA, draft) • Alaska (draft, cargo volume, mooring) • Puget Sound (dwt) • San Francisco (draft, KTM)

  12. Summary “We really don’t think we know how to operate your tankers better than you do, but we have a lot on the line as well.”

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