Tesoro had been hoping to offload its refiner in Hawaii, but with no buyers stepping forward, the company has now said it will close the refinement plant and repurpose it as a storage facility. The reasoning was that it was positioned in a small market that also had very limited access to feedstock. In this video, Motley Fool energy analyst Joel South discusses what the company's plans are going forward without its Hawaiian refinement capability, and whether this move will hurt the company.
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The article Tesoro to Shutter Its Hawaiian Refiner originally appeared on Fool.com.
Joel South and Taylor Muckerman have no position in any stocks mentioned. The Motley Fool owns shares of Western Refining. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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