The Federal Trade Commission is currently accepting public comments on an application by Par Petroleum Corp. to modify the Amended Honolulu Terminal Agreement. Prior approval of the modification to the agreement is required under the FTC’s May 15, 2015 final order settling charges that Par’s $107 million acquisition of Koko’oha Investments, Inc.’s wholly-owned subsidiary Mid Pac Petroleum, LLC would likely be anticompetitive.
The Amended Honolulu Terminal Agreement between Par and Aloha Petroleum, Ltd restricts Par’s storage of petroleum products at Aloha’s Barbers Point Terminal. The FTC’s order sought to preserve the flexibility of importing Hawaii-grade gasoline blendstock, known as HIBOB.
According to Par’s application, Par’s competitor has shut down its refinery in Hawaii, and Par does not produce enough gasoline to meet demand in Hawaii. Par seeks to modify the Amended Honolulu Terminal Agreement to import and store HIBOB at Aloha’s Barbers Point Terminal.
The Commission will decide whether to approve the application after a 30-day public comment period, which expires on Feb. 24, 2020. Comments can be filed electronically through Regulations.gov, or sent to: Federal Trade Commission, Office of the Secretary, Constitution Center, 400 7th Street SW, 5th Floor, Suite 5610 (Annex D), Washington, DC 20024.
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