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Tesoro companies to change name to Andeavor

Tesoro Corp. and Tesoro Logistics LP intend to change their names to Andeavor and Andeavor Logistics LP, respectively, on Aug. 1, to reflect an "ongoing transformation," the companies said in a June 1 news release.

Tesoro and Tesoro Logistics will also change their logos and their ticker symbols, with Andeavor to trade on the NYSE under ANDV and Andeavor Logistics under ANDX.

"The change to Andeavor acknowledges the significant progress we've made in becoming a premier refining, marketing and logistics company," said Greg Goff, chairman, president and CEO of Tesoro. "While our name is changing, our strategic priorities, financial discipline, guiding principles and the foundational elements of how we operate remain the same."

Retail stations using the Tesoro brand will continue doing so, and the Andeavor name would not be part of the retail portfolio, which would be composed of about 3,000 locations after the completion of the merger with Western Refining Inc.