Tesoro Corporation has announced its plan to sell its Hawaii operations, including the 94,000 barrel-per-day Kapolei refinery, operations at 32 retail stations and all associated logistical assets.
Tesoro says the business in Hawaii does not align with their strategic focus. They say they’re intending to sell the Hawaii operations to a company that will invest in the business and the employees. Their other refineries are in Washington, California, Alaska, North Dakota, and Utah. However, analysts say that since Tesoro owns no oil wells, they’ve suffered from the rising price of crude oil. They have around 500 employees here in the state.
Of the company’s 32 Hawaii gasoline stations, those on Hawaii Island include one on Kamehameha Avenue in Hilo, one at the intersection of Mamalahoa Highway and Haleki’i Street in Kealakekua, the Queen K Tesoro just north of Kailua-Kona near Honokohau Harbor, one on Palani Road in Kailua-Kona near the KTA Kailua location. They will all be included in the sale.