Valero, Tesoro Win Defense Fuel Contracts
The Defense Logistics Agency Energy awarded the deals, which have a collective value of $657.9 million. Broken down by contracts, Valero received a $361.3-million contract and Tesoro received a $296.6-million contract. Both contracts run through 2013, according to the San Antonio Business Journal.
Valero's assets include 16 petroleum refineries and 10 ethanol plants. Valero ranks No. 9 among the 2012 Convenience Store News Top 100 convenience store chains, with c-stores under the Beacon, Corner Store, Diamond Shamrock, Total, Ultramar and Valero banners. The company also ranks No. 8 on the industry's Top 20 Growth Chains list, with 1,772 stores. It added 76 stores between December 2010 and December 2011, registering a 4.5-percent increase. Valero is a Fortune 500 company.
Tesoro is an independent refiner and marketer of petroleum products. Through its subsidiaries, the company operates seven refineries in the western United States. Tesoro ranks No. 34 among the 2012 Convenience Store News Top 100 convenience store chains with c-stores operating under the 2 Go Mart, Big Johns, Mirastar, Tesoro, Tesoro Gas Express, USA Fuel Center, USA Gas, USA Mini Mart, USA Petroleum and USA Station banners. Tesoro is a Fortune 150 company.