Two Mainland energy companies have invested more than half a billion dollars in Hawaii recently...on fossil fuels. Pacific Business News Editor in Chief A. Kam Napier explains why.
The two companies are Houston-based Par Pacific Holdings and New York-based One Rock Capital Partners. Par purchased the state’s largest refinery, gas stations and more from Tesoro in 2013 for $539 million. It has since also acquired Mid-Pac Petroleum and the exclusive license to the 76 brand in the state for $107 million.