Porter Hedges represented Par Petroleum Corporation (“Par Petroleum”), parent company of Hawaii Independent Energy, LLC (“HIE”) in connection with a new Supply and Offtake Agreement with J. Aron & Company (“Aron”), the commodity trading arm of Goldman Sachs.
The agreement provides for HIE to purchase from Aron mutually agreed crude oil cargos for use in its Hawaii refinery with a nameplate capacity of 94,000 barrels per day. Aron, in turn, will purchase the refined products HIE produces at market prices. HIE will repurchase the refined products from Aron and sell to its customers.
Par Petroleum Corporation, headquartered in Houston, Texas, is a growth-oriented integrated refiner and marketer of petroleum products.
Porter Hedges previously represented Par Petroleum in the acquisition of Hawaii’s Mid Pac Petroleum, the acquisition of Tesoro Hawaii, LLC and the acquisition of SEACOR Energy, Inc.
The Porter Hedges Team was led by Mac Marshall and Joyce Soliman with assistance from Brian Rose, Jim Reardon, Shayla Friesen, Matt Savage, Matt Lea, Anders Gibson and Kevan Richards.
For additional information, see the Par Petroleum press release here.