Chevron has hired an investment bank to help sell its 54,000-barrel-per-day Kapolei refinery on the Hawaiian island of Oahu. Via Bloomberg, Chevron considered selling the refinery 2011, but instead made an effort to improve its performance. The company has also considered turning the refinery into a terminal. It is Chevron’s fourth-smallest refinery by capacity.
Meanwhile, ExxonMobil is reportedly trying to sell its Torrance, Calif., refinery — potentially joining other refiners that have sold plants in California to reduce exposure to the state’s strict regulatory regime. Sources told Reuters the 155,000-barrel-per-day refinery has been “looked at extensively,” though ExxonMobil declined to comment. BP and Shell have sold refineries in California in recent years.
