Par Pacific Holdings, Inc. (PARR)

[Captain Cooke]

Will the Parr Refinery be closed by 2020?

Hawaii refineries could close by 2020, task force report says
Janis L. Magin
Pacific Business News
Date: Wednesday, November 20, 2013, 7:15am HST
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One or both of Hawaii's two refineries are likely to close by 2020 because of the significant challenges they face as demand decreases and the state's demand for cleaner sources of energy increases, according to an interim report from the state's refinery task force.

The state's progress in adopting renewable energy could reduce the need for fossil fuels by as much as 50 percent by 2020 was among the findings contained in the report submitted to Gov. Neil Abercrombie.

Abercrombie created the task force in February to assess the impact of a potential closure of the Tesoro refinery, which was recently purchased by Texas-based Par Petroleum.

“The work of the task force is critical to enabling the state to bridge the period to a new energy ecosystem and helping to ensure stable refinery supply during the transition,” Richard Lim, director of the Department of Business, Economic Development and Tourism, who oversees the task force, said in a statement. “This joint effort of public and private parties demonstrates a cohesive collaboration in addressing current and future challenges to Hawaii’s fuels ecosystem.”

Click here to read the full report.



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