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Tesoro to shutter refinery

The plan to convert the facility into an import terminal results in up to 200 layoffs but is not expected to affect gas prices

By Alan Yonan Jr.

POSTED: 01:30 a.m. HST, Jan 09, 2013

~~<p>Tesoro Corp.'s decision to convert its Campbell Industrial Park oil refinery into an import terminal and lay off as many as 200 workers is not expected to have a significant effect on prices for gasoline and other fuel products in Hawaii, state officials and energy analysts said.</p>
<p>San Antonio-based Tesoro, which had tried unsuccessfully for a year to find a buyer for the largest refinery in the state, said Tuesday it will shutter the financially underperforming facility in April. At that point Tesoro will begin to import gasoline and other refined fuels to be stored at the Kapolei facility and distributed to customers. The company will continue to seek a buyer for its assets, which include 31 Tesoro gas stations across the state and 129 acres of land in Kapolei valued at $59.3 million.</p>
~~

Tesoro Corp.'s decision to convert its Campbell Industrial Park oil refinery into an import terminal and lay off as many as 200 workers is not expected to have a significant effect on prices for gasoline and other fuel products in Hawaii, state officials and energy analysts said.

San Antonio-based Tesoro, which had tried unsuccessfully for a year to find a buyer for the largest refinery in the state, said Tuesday it will shutter the financially underperforming facility in April. At that point Tesoro will begin to import gasoline and other refined fuels to be stored at the Kapolei facility and distributed to customers. The company will continue to seek a buyer for its assets, which include 31 Tesoro gas stations across the state and 129 acres of land in Kapolei valued at $59.3 million. Login for more...



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