One Rock plans to keep Honolulu refinery running after deal

摘要

New York-One Rock Capital Partners will continue to operate the 54,000 b/d Honolulu, Hawaii, refinery it purchased from Chevron as a refinery, taking advantage of rising gasoline demand and improved margins. It was no secret the refinery was up for sale-Chevron put the plant on the market in 2013, hiring Deutsche Bank as an advisor. But with only two refineries operating in Hawaii, and limited local refined product demand, industry watchers questioned if the Honolulu plant would continue to operate once sold, or be turned into a terminal.