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Par Petroleum purchases Tesoro Hawaii

Published On: Sep 26 2013 10:14:00 AM HST

Par Petroleum has completed its purchase of Tesoro Hawaii LLC for nearly $400 million.

HONOLULU -

Par Petroleum has completed its purchase of Tesoro Hawaii LLC for about $400 million, according to a press release.

Tesoro Hawaii will be renamed Hawaii Independent Energy.

The acquired assets include a 94,000 barrel-a-day refinery in Kapolei, storage for more than 2 million barrels of crude oil and 2-and-a-half million barrels of refined products and other related assets.

The company will also have the rights to sell gas through 31 Tesoro-branded retail stations in Hawaii.

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