While Valero (NYSE:VLO) gets most of the attention in the downstream market as the best independent refiner, Tesoro (NYSE:ANDV) is a name making great strides that shouldn't be overlooked by investors. The company recently approved a $1bln buyback (up from $500mln) and Greg Goff, President and CEO of Tesoro was quoted as saying "Our focus remains on the continued execution of our strategic plan and driving shareholder value creation through strong operating performance and the delivery of high return capital projects and synergies."

Investors should keep in mind Tesoro is hosting an Analyst/Investor day at NYSE on Dec 10th. I'm looking for the company to continue to discuss ways to become more efficient while ramping up production from newly acquired California assets. Also, I'm keen to hear management discuss steps to secure a bigger piece of the jet fuel market, a market trying to incorporate cleaner biofuels Tesoro is moving forward with. 

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