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ASSOCIATED PRESS / 2005
Chevron Corp. announced Tuesday it agreed to sell its Hawaii oil refinery to Island Energy Services LLC, a subsidiary of New York-based, private-equity firm One Rock Capital Partners LP. A bakery truck refuels at a Chevron gas station in Mountain View, Calif.
All Chevron gas stations in Hawaii will become Texaco stations later this year as part of the sale of Chevron Corp.’s Hawaii oil refinery to private-equity firm One Rock Capital Partners LP.
Terms of the sale were not disclosed, but One Rock said all 300 Hawaii-based employees will be offered continued employment.
The Kapolei plant has the capacity to process more than 50,000 barrels of crude daily. The transaction also includes 58 gas stations, four fuel terminals and a network of pipelines, Chevron said today in a statement.
The sale is expected close during the second half of this year, New York-based One Rock said in a separate statement.
Techron is what I like about Chevron gas, and Texaco also has it, so all the same to me.
THERE GOES THE “LOWER” GAS PRICES.
Will Texaco continue to honor the Safeway awards earned? If not, Costco and Sam’s may as well increase the amount of pumps.
I’m confused . . . isn’t the Texaco brand name owned by Chevron? Or is it that the stations will no longer be owned by Chevron but will license the Texaco brand name from ChevronTexaco?