Par Pacific Holdings has announced it will suspend purchases of Russian crude oil for processing at its Hawaii refinery.
‘We intentionally diversify our crude oil sources from locations around the globe to enable us to meet the state's ongoing demand for fuels,’ the company said in a statement yesterday (3 March). ‘However, in light of recent geopolitical events, we have decided to suspend purchases of Russian crude oil for our Hawaii refinery.’
The company is reportedly the first US refiner to refuse Russian oil following the invasion of Ukraine.
Highlighting the ‘dynamic’ geopolitical landscape and energy markets, Par Pacific said it would ‘continually monitor and evaluate our posture on Russian crude’ over the coming weeks and months.
In the meantime, the company said it would turn to other grades of crude, ‘principally from North and South America’, to meet fuel production requirements.
Par Hawaii’s refined oil products include marine fuel, as well as ultra-low sulphur diesel, gasoline, jet fuel asphalt and fuel oil for electrical generation.
