Updated at 3:11 p.m., Wednesday, December 5, 2007
Tesoro may spend $175 million on project here
Advertiser Staff
Tesoro Corp. said it may spend as much as $175 million on plans to upgrade its Kapolei refinery to process lower cost high-sulfur crude oil.The company yesterday told financial analysts that the Hawai'i project is one that is being considered for its seven refineries in the U.S. as it contemplates spending more than $5 billion on projects over the next five years.
Tesoro last month said it wanted to enhance Hawai'i's largest refinery so it could refine higher-sulfur crude oils, which are less expensive and more plentiful than low-sulfur crude.
The company said it's studying a $100 million to $75 million project that would increase the O'ahu refinery's "sour" crude oil handling capabilities and enhancing naphtha handling to remove sulfur and benzene.
Tesoro said the project would begin late next year and be completed in the second quarter of 2010 if it decides to move ahead.
