Hawaii’s top energy official on Thursday said he supports a decision by the owner of Hawaii’s only operational oil refinery to cease purchasing crude oil from Russia because of its war against Ukraine.
Par Pacific Holdings, which owns Par Hawaii on Oahu, announced earlier Thursday it will instead buy crude oil from other parts of the world to meet the state’s fuel production requirements.
“We strongly support Par Pacific Holdings Inc.’s decision to suspend purchasing any more Russian crude oil for Hawaii,” Chief Energy Officer Scott Glenn said in a statement.
“The Hawaii State Energy Office has been in close contact with Par and other state and industry partners ever since tensions between Russia and Ukraine arose to assure energy supply for Hawaii would not be disrupted.
“While we do not anticipate any supply concerns, HSEO reminds residents that energy prices are likely to remain high and perhaps go even higher due to uncertainty in the global energy markets. This market exposure underscores why Hawaii is focused on transitioning as quickly as it can to locally produced renewable energy.”
About 25% of Hawaii’s crude oil comes from Russia.
“The geopolitical landscape and energy markets are dynamic,” Par Pacific Holdings said in a press release announcing its decision. “We will continually monitor and evaluate our posture on Russian crude over the coming weeks and months.
“In the meantime, we are turning to other grades of crude, principally from North and South America, to meet fuel production requirements. As the geopolitical situation evolves, we will work closely with our customers and partners in state government to make prudent decisions in support of energy assurance for Hawaii.”
In addition to operating its refinery on Oahu, Par Pacific supplies fuel to 90 retail locations in Hawaii, including the 76 brand gas stations and Par Pacific’s own gas station chain, Hele.