Chevron is gauging interest for the sale of its refinery in Hawaii along with transportation and terminal assets located throughout the Hawaiian islands.
The company has hired Deutsche Bank to identify potential buyers for its 54,000 bpd refinery in Kapolei, a pipeline that connects that refinery to a terminal in Honolulu and five terminals located throughout the Hawaiian Islands, Bloomberg said.
The asking price for the assets have not been disclosed.
“No decision has been made at this time other than to determine the level of interest of potential buyers,” Chevron spokesman Braden Reddall said.
The Kapolei refinery, located in Oahu, is one of Chevron’s smallest refineries. The refinery started production in 1961 and currently employees about 200 people.
Chevron has been indicting for years that the refinery underperforms compared to the company’s other assets and has considered closing it.
The sale would be part of a larger $10 billion divestment plan Chevron hopes to complete by 2017.