HONOLULU (HawaiiNewsNow) - Chevron Corp. announced Tuesday it reached an agreement with Island Energy to sell its Hawaii assets.
The sale will include Chevron's refinery in Kapolei, interests in a 58-site branded service station network, four product distribution terminals, pipeline systems and other related downstream assets in the state, according to a press release.
"I am pleased we were able to come to agreement with Island Energy Services," said Dale Walsh, president of Chevron Americas Products, in a statement. "Island Energy Services' ownership group, One Rock, was carefully selected due to its strong operating experience and commitment to the future success of the Hawaii business."
The agreement is subject to customary regulatory approvals and will likely be completed near the end of 2016.
Chevron employs about 300 people in the state.