Tesoro sells Hawaii refinery to Par Petroleum
Tesoro Corporation is reported to have sold its 94,000-b/d Hawaii refinery and related assets to a subsidiary of Houston-based Par Petroleum. Par Petroleum has said it is paying $75mn in cash plus the market value of net working capital and a payout of future earnings over three years of as much as $40mn. Tesoro has valued the acquisition at $325mn. The deal also includes storage, terminals and pipelines.
