Par Pacific Holdings is a Houston-based American

oil An oil is any nonpolar chemical substance that is composed primarily of hydrocarbons and is hydrophobic (does not mix with water) & lipophilic (mixes with other oils). Oils are usually flammable and surface active. Most oils are unsaturated ...

and

gas Gas is one of the four fundamental states of matter (the others being solid, liquid, and plasma). A pure gas may be made up of individual atoms (e.g. a noble gas like neon), elemental molecules made from one type of atom (e.g. oxygen), or ...

exploration and production company. Known as Par Petroleum Corporation after it emerged from bankruptcy, it was renamed Par Pacific Holdings on October 20, 2015. it was a

Fortune 1000 The Fortune 1000 are the 1,000 largest American companies ranked by revenues, as compiled by the American business magazine ''Fortune''. It only includes companies which are incorporated or authorized to do business in the United States, and for ...

corporation. Par Pacific Holdings, Inc., a company whose headquarters are in Houston, Texas, owns operations in oil and production and midstream operations. Par Pacific owns the largest operating refinery in Hawaii which has a 94,000-bpd capacity, this distributes to 90 proprietary and additional independent retail locations under the Hele and 76 brands. In Wyoming, Par Pacific owns a refinery and pipelines which bring crude oil and distributes refined products. Par Pacific also owns 42.3% of Laramie Energy, LLC which has natural gas operations and assets concentrated in the Piceance Basin in Western Colorado.

Hawaii operations

On 19 December 2018, Par Pacific completed the $45 million sale from Island Energy Services (IES) of the 94,000-b/sd crude and vacuum distillation refinery known as ''Par East'' at the Campbell Industrial Park in

Kapolei Kapolei () is a planned community in Honolulu County, Hawaiʻi, United States, on the island of Oʻahu. It is colloquially known as the "second city" of Oʻahu, in relation to Honolulu. For statistical purposes, the United States Census Bureau ...

Hawaii Hawaii ( ; haw, Hawaii or ) is a state in the Western United States, located in the Pacific Ocean about from the U.S. mainland. It is the only U.S. state outside North America, the only state that is an archipelago, and the only stat ...

, and existing stocks of petroleum products. The Par East refinery at Kapolei is operated by Par Hawaii Refining, Inc., which is led by president Jimmy Yates and is a subsidiary of Par Pacific. Par Pacific expected to hire 20 additional employees along with 65 IES workers. IES will continue to own and maintain the Kapolei offshore mooring terminal and provide logistical support of petroleum products to Hawaii Electric Light Co., Maui Electric Co., Hawaiian Electric Co., and Kauai Island Utility Cooperative. According to IES CEO Jon Mauer in 2018, IES will continue to supply petroleum products to its existing 56

Texaco Texaco, Inc. ("The Texas Company") is an American Petroleum, oil brand owned and operated by Chevron Corporation. Its flagship product is its Gasoline, fuel "Texaco with Techron". It also owned the Havoline motor oil brand. Texaco was an Indepe ...

-branded stations from its current network of local and global suppliers and will bring on line additional stations including a new one in Kapolei. During 2018, approximately eight cargoes of Minas crude from

Riau Riau is a province of Indonesia. It is located on the central eastern coast of Sumatra along the Strait of Malacca. The province shares land borders with North Sumatra to the northwest, West Sumatra to the west, and Jambi to the south. Accord ...

Sumatra Sumatra is one of the Sunda Islands of western Indonesia. It is the largest island that is fully within Indonesian territory, as well as the sixth-largest island in the world at 473,481 km2 (182,812 mi.2), not including adjacent i ...

Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...

were shipped to Hawaii through third parties on term offtake agreements with Indonesia's

Pertamina PT Pertamina (Persero), formerly abbreviated from ''Perusahaan Pertambangan Minyak dan Gas Bumi Negara'' (lit. 'State Oil and Natural Gas Mining Company'), is an Indonesian state-owned oil and natural gas corporation based in Jakarta. It was cr ...

or field operator PT Chevron Pacific Indonesia (CPI), but the shipments from Indonesia to the Kapolei Refinery were terminated under Par Pacific in 2019.), is linked to UAE - Dubai Crude prices and competes with Alaskan Oil, is usually carried on

Aframax An Aframax vessel is an oil tanker with a deadweight between 80,000 and 120,000 metric tonnes. The term is based on the Average Freight Rate Assessment (AFRA), a tanker rate system created in 1954 by Shell Oil to standardize shipping contract ...

Suezmax "Suezmax" is a naval architecture term for the largest ship measurements capable of transiting the Suez Canal in a laden condition, and is almost exclusively used in reference to tankers. The limiting factors are beam, draft, height (because ...

class tankers with cargoes of 740,000 barrels or 1 million barrels which are smaller tankers as opposed to the

Very Large Crude Carriers An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. Crude tankers move large quantities of unrefined crud ...

with capacities of 2 million barrels. In March 2022, the Kapolei Refinery received about a quarter of its crude from

Russia Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...

Far East The ''Far East'' was a European term to refer to the geographical regions that includes East and Southeast Asia as well as the Russian Far East to a lesser extent. South Asia is sometimes also included for economic and cultural reasons. The ter ...

. Following the 8 March 2022 announcement by President Biden of a ban of Russian oil, liquified natural gas, and coal imported into the United States due to the

War in Ukraine The following is a list of major conflicts fought by Ukraine, by Ukrainian people or by regular armies during periods when independent states existed on the modern territory of Ukraine, from the Kyivan Rus' times to the present day. It also i ...

, Par Pacific announced that it would obtain non-Russian sources for its West

Oahu Oahu () (Hawaiian language, Hawaiian: ''Oʻahu'' ()), also known as "The Gathering place#Island of Oʻahu as The Gathering Place, Gathering Place", is the third-largest of the Hawaiian Islands. It is home to roughly one million people—over t ...

oil refinery. Between August and December 2021, the refinery received one shipment of approximately 700,000 barrels from the Russian Far East. To replace the Russian sources, Par Pacific announced that it would source from North America and South America.

Notes

References

{{reflist 2015 establishments in Texas Companies based in Houston