JOSEPH MASTEN MONROE

153 Sendero Verde Home Phone: 830-980-6554

San Antonio, TX 78261 jm1128672@westpost.net Cell Phone: 210-240-6042

SUMMARY
Senior Energy Executive with in-depth leadership experience in all aspects of re
fining and marketing; major pipeline and terminal operations, exploration and pr
oduction management, and joint ventures. Strong background in global markets.
Proven turn-around and change management expert. Extensive full corporate profit
and loss accountability. The go to person for company growth and structure. Ex
tensive experience in strategic planning, acquisitions and integration of acquis
itions. Unique ability to forge key relationships with government and industry
leaders. An effective team builder and organizational leader of large scale pro
jects and large organizations. Experienced Board of Director representation. C
apable and experienced working anywhere in the world.

PROFESSIONAL EXPERIENCE
TESORO CORPORATION 2002 - 2010
CORPORATE HEADQUARTERS, SAN ANTONIO, TX
As a Company Officer and member of the Executive Leadership Team with full accou
ntability for corporate profit and loss, a major contributor to the successful g
rowth of the Company from a market cap of under $87 million to a market cap of o
ver $5 billion in the first three years. Managed the balance sheet from a 70% to
tal debt to total capital to under 40% in the same time frame.
Senior Vice President, Logistics and Marine (2010)
Reorganized and directed a centralized organization that combined the assets, op
erations and responsibilities of Pipelines and Terminals; Rail and Commercial Tr
ucking; and Marine to create efficiencies. Enhanced communications, optimization
and transparency for logistics-related activities across the company.
* Led team of 250 that managed 1000 miles of pipelines, 17 proprietary terminals
(4 million barrels), 18 marine vessels (domestic and foreign flag), 1085 leased
rail cars and 60 truck transports, as well as, spot marine and commercial logis
tics and business development activity. Annual expense budget of $500 million a
nd capital budget of $25 million.
* Reorganized and downsized to create a more efficient and cost effective organi
zation.
* Implemented the formation a profit center and a Master Limited Partnership (ML
P) of the pipeline and terminal assets to capture a higher value multiple and cr
eate a strong growth vehicle.
Senior Vice President, Corporate Development (2008 -2010)
Reorganized and directed a centralized, highly talented and seasoned team, that
focused on all merger/acquisition/divestiture activities for the Corporation, al
l business development activities focused on organic growth, strategic alliances
, long-term supply and trading, renewable fuels, alternative energy, and strateg
ic plan development. Set the strategic direction for the Corporation and its a
ssets.
* Rewrote the strategic plan for the Corporation to focus on cost effective cons
olidations and strategic alliances.
* Structured a unique value adding strategic alliance with Petrobras of Brazil t
o increase profitability and decrease earnings volatility.
Senior Vice President, Business Development and Logistics (2007 - 2008)
Created and directed a centralized corporate organization focused on all busines
s development activities, operations of pipelines, terminals, trucks, rail and m
arine and quality assurance across the company's entire supply chain.
* Successfully expanded into new international logistic assets to expand interna
tional trading of crude and products.
* Captured Tesoro's position in the reversal of the Panama Pipeline, including 4
million barrels of tankage.
Senior Vice President, Corporate Development (2006 - 2007)
Created and directed, from scratch, a centralized corporate organization focused
on all business development activities and strategic capital management.
* Captured the major acquisitions of the Shell assets in Los Angeles (100 MB/D r
efinery and 240 retail outlets) and USA Petroleum (170 retail outlets).
Senior Vice President, Business Integration and Analysis (2005 - 2006)
Led organization focused on all capital management, long term planning, operatio
ns communications, quality assurance, stock loss and inventory management.
* Implemented a rigorous, collaborative, transparent and disciplined process to
consistently manage capital projects through Board of Director approval for the
Corporation.
* Crafted a capital program of $670 million for 2006 from a historical annual sp
end pattern of $200 million (total multi-year program of over $2 billion for int
ernal/organic growth).
* Developed the process to create the one year and five year operating plans, th
e annual budget, the facility development plans and the functional and corporate
business plans.
* Created centralized organizations to develop and implement best practices to a
chieve operational excellence in quality assurance, stock loss and inventory man
agement across the entire supply chain.
Senior Vice President, Organizational Effectiveness (2004 - 2005)
Oversight of Tesoro's organizational strategy and the direction of Human Resourc
es, Corporate Communications, Corporate Security, Corporate Services and the Pro
ject Management Office.
* Consolidated and centralized all Human Resource activities and designed a new
organization around Talent Effectiveness, Total Compensation and Relationship Ma
nagement.
* Managed a comprehensive cross functional transformation project that was fully
implemented.
Senior Vice President, Strategic Planning and Business Development (2004)
Reporting directly to the CEO, aligned the company's strategy and long-term busi
ness development activities.
* Created Tesoro Corporation's first ever comprehensive strategic business plan,
gaining Board approval
* Started a rigorous process for acquisition evaluation and business development
screening.
* Developed options for internal organic growth, matched against external acquis
ition growth opportunities.
Senior Vice President, Supply and Distribution (2002 - 2004)
Directed all activities for Tesoro in refinery feedstock purchases, bulk marketi
ng of refined products, natural gas/LPG supply and trading, risk management, ref
inery optimization and logistical operations, including pipelines, terminals, tr
ucks, trains and marine.
* Managed all supply and trading activities through a period of the Company's hi
story where debt to capitalization was 70% and with no access to credit faciliti
es, such as letters of credit. (Today debt to capitalization is 36 %.)
* Implemented sophisticated trading controls and optimization tools.
* Created optionality and enhanced profitability through an expanded trading foc
us.
* Developed risk management programs to safely achieve debt reduction.
UNOCAL CORPORATION 1978 - 2002
OPERATIONS HEADQUARTERS, SUGAR LAND, TX (1998 - 2002)
Vice President, Pipelines and Terminals (1999 - 2002)
As President Unocal Pipeline Company and President Unocal Natural Gas Pipeline C
ompany with full profit and loss accountability, directed Pipeline and Terminal
Operations and Pipeline Project Development worldwide, including board represen
tation and management of over 30 joint venture companies comprised of 14,000 mil
es of pipeline, eight million barrels of storage and over 200 employees.
* Consolidated worldwide midstream businesses into single business unit with $90
million per year in after tax earnings and total project capital in excess of $
600 million.
* Reorganized $850 million of North American midstream assets into master holdin
g company and limited liability companies to maximize flexibility for financing,
joint ventures and dispositions.
* Elected, by industry peers, to 13-member executive committee of Association of
Oil Pipe Lines.
* Created and chaired Executive Summit Group of 26 liquid and natural gas pipeli
ne company CEO's and five trade associations focused on pipeline safety legislat
ion in Washington, D.C.
Managing Director, International Pipelines and Fuel Management (1998 - 1999)
Directed new pipeline project development in excess of $8 billion in total capit
al and managed commercial agreements on new pipelines and fuel management projec
ts worldwide.
* Managed withdrawal from, and partner relationships of, crude oil and natural g
as pipeline in Central Asia ($4 billion total project cost).
* Worked as lead industry representative in APEC working group. Provided policy
recommendations to APEC leaders.
UNOCAL INDONESIA VENTURES, LTD., JAKARTA, INDONESIA (1996 - 1998)
Senior Vice President, New Ventures
As Country Manager, responsible for all market-to-resource business development
involving oil, gas and geothermal resources and PSC negotiations, pipeline proje
cts, power projects, chemical and fertilizer projects and LNG and LPG projects i
n Indonesia.
* Negotiated three oil and gas production-sharing contracts.
* Negotiated four oil and gas farm-in opportunities through leveraging of low co
st drilling techniques.
* Qualified corporation for pipeline project development in country.
* Developed expansion plan for geothermal power project development by securing
properties on Sumatra and Java.
* Negotiated creative joint ownership solution with government for an existing c
ombined cycle power plant outside of Jakarta.
VARIOUS POSITIONS OF INCREASING RESPONSIBILITY (1978-1996)
General Manager, Pipelines and Administration (1994 - 1996)
General Manager, Crude Oil Supply and Trading, North America (1992 - 1994)
Manager, Strategic Planning (1990 - 1992)
Manager, Crude Oil Supply and Trading, West Coast (1986 - 1990)
Senior Engineer, Hydrotreating Department (1984 - 1986)
Project Manager, Process Engineering (1982 - 1984)
Research Engineer, Process Development (1978-1982)
EDUCATION
UNIVERSITY OF SOUTHERN CALIFORNIA, Los Angeles, Ca.
Master of Business Administration, Corporate Finance
UNIVERSITY OF CALIFORNIA, Berkeley, Ca.
M. S. Chemical Engineering
NORTH CAROLINA STATE UNIVERSITY, Raleigh, N. C.
B. S. Chemical Engineering (Class Rank #1)

BOARD OF DIRECTOR AND RELATED EXPERIENCE

COLONIAL PIPELINE COMPANY, Board Member 1999-2002 and 1994-1996
COOK INLET PIPELINE COMPANY, Board Member (Chairman) 1999-2002 and 1994-1996
TRANSANDEAN PIPELINE COMPANY, Board Member 1998-1999
AZERBAIJAN MAIN EXPORT PIPELINE, Owners Committee Member 1998-2000
TRANS ALASKA PIPELINE, Owners Committee Member 1999-2002 and 1994-1996
CENTGAS CONSORTIUM (Afghanistan Project), Board Member/Owner 1998
YELLOWSTONE PIPELINE COMPANY, Board Member 1999-2002 and 1994-1996
ASSOCIATION OF OIL PIPELINES (AOPL), Executive Committee 1999-2002 and 1994-199
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