The paperwork is final.
Tesoro’s Hawaii refinery has a new owner and will get a new name.
Par Petroleum Corp., based in Houston, Texas, paid $75 million cash in the sale.
The deal means the Kapolei refinery will change its name to Hawaii Independent Energy.
The new owner will also have rights to sell gasoline at 31 Tesoro-branded stations in Hawaii.
Prior to this buyout, the refinery was threatening to close and layoff 200 employees.
Now, no one will lose their jobs.