Business Report: Chevron - Hawaii News Now - KGMB and KHNL

Business Report: Chevron

HONOLULU (HawaiiNewsNow) - Chevron corporation this week has notified employees company-wide that the company will downsize between now and the third quarter. Chevron promises details in March but at this point won't say if Hawaii is affected. Hawaii may well be affected.

Chevron owns one of the two oil refineries in Hawaii, but industry watchers say it's an aging facility that would be costly to modernize in a slow economy. If it chose to, Chevron could simply ship refined petroleum products from its operations in California.

That would spell the end to hundreds of good jobs here. It could also make it harder for Chevron to compete for lucrative contracts with military bases in Hawaii.

Chevron has two refineries in California, one in Salt Lake City, and one in Passacougla, Mississippi. It has several overseas. The San Francisco Chronicle this morning says the California refineries are highly profitable and probably will not be closed.

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