Porter Hedges Advises Par Petroleum in Connection with New Supply and Offtake Agreement with Goldman Sachs’ Trading Subsidiary
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.
For additional information, see the Par Petroleum press release here.