On June 1, 2017, Tesoro acquired Western Refining and announced that the company would adopt a new name, Andeavor, effective August 1, 2017. The change in our name has its roots in our decision some years ago to create a special company, one that delivers ever greater value to all our stakeholders by bringing out the best in each other.
Our rapid evolution, growth and improved performance driven by the extraordinary efforts of our employees and the addition of outstanding talent and assets, has transformed our company. Our new name acknowledges the significant progress we have made and signals our aspiration to continue establishing Andeavor as a premier refining, marketing and logistics company. We aim to be better in every way - for our people, our customers, our shareholders, our business partners and our communities.
While we’ve changed our name, it's important to note that some things have not changed, such as our steadfast commitments to safety, environmental responsibility, and to being a good employer and responsible member of the communities where we operate.
Our new company name, Andeavor, is a custom-created word that acknowledges the transformational journey we've been on. It benefits from similarity to the word "endeavor" - making it easy to say and remember, but it has been evolved to reflect the upward direction and aspiration. Andeavor evokes our journey toward making a difference, and is also a promise to keep improving, keep evolving and keep delivering ever-greater value to all our stakeholders.
With our acquisition of Western Refining, we have approximately 1.2 million barrels of refining capacity, 13,000 employees, more than 3,000 retail locations, an extensive logistics system, a track record of performance and a solid platform for growth for years to come. We believe our transformation is an opportunity to redefine ourselves in a way that captures the spirit of how far we've come and what we still hope to achieve.
We hope that you come to see Andeavor as a sign of our aspiration to make our company better in every way.