Business briefs

Advertiser Staff and News Services

Tesoro expects lower profit

Tesoro Petroleum Corp., which owns oil refineries in Hawai'i and other Western states, said second-quarter profit may be as much as 19 percent below analysts' estimates because gasoline prices fell in June.

Per-share profit will be 65 cents to 75 cents, San Antonio-based Tesoro said in a statement, compared with the average estimate of 80 cents from six analysts polled by First Call/Thomson Financial. Estimates ranged from 75 cents to 91 cents. Tesoro earned 35 cents a year earlier.

Contract goes to Starr Seigle

Starr Seigle Communications, a Honolulu-based advertising and public relations company, won a $2.6 million contract to promote tourism to the Northern Mariana islands of Saipan, Tinian and Rota from Japan and North America, the company said.

The 18-month contract with the Marianas Visitor Authority will include advertising, public relations and Web site development.

Island Insurance lowering rates

Island Insurance Cos. of Honolulu will lower homeowner rates between 7 percent to 25 percent beginning tomorrow, the company said in a news release.

Policyholders will see their rate reduction take effect at the time their policy is renewed, the company said. The average decrease will be about 19 percent, it said.