Kauai Petroleum Co. Ltd. owners are apparently looking to get out of the fuel business. According to a classified advertisement that appeared in Thursday’s edition of The Garden Island, officials at Kauai Petroleum are offering for sale their interests in
Kauai Petroleum Co. Ltd. owners are apparently looking to get out of the
fuel business.
According to a classified advertisement that appeared in Thursday’s
edition of The Garden Island, officials at Kauai Petroleum are offering
for sale their interests in a “going terminalling, distribution and
retail petroleum business on Kauai with major brand affiliate.”
Company Vice President Jeanette Otsuka Chang referred all questions to
company President Baltazar L. Manibog.
Manibog said he would not comment till the sale closed.
Both Chang and Manibog expressed concerns about alerting their employees
prior to the proposed sale plans.
Kauai Petroleum Co. Ltd. workers are jobbers, or middlemen who purchase
fuel and then deliver that fuel to Union 76 stations and some of the
Shell stations on the island.
According to industry insiders, the company also operates a terminal for
Shell Oil at Nawiliwili.
Company leaders are not using a business broker. Chang said they have
retained an attorney to facilitate proceedings.
No price was announced in the advertisement.
Kauai Petroleum Co. Ltd. leaders reportedly have leasehold arrangements
with the Union 76 stations in Kukui Grove Commercial Village, Kalaheo
and Lihu‘e.
While not commenting on the Kauai Petroleum Co. Ltd. situation in
specific, economist Dr. Leroy Laney said “jobbers,” or middlemen like
leaders of Kauai Petroleum, may be feeling the squeeze of the state’s
gas-cap law on the price of wholesale gasoline.
According to the state Department of Commerce and Consumer Affairs
Business-Registration Division, Kauai Petroleum’s other officers include
Harold Tanaka and Joanne and Patrick Ahana.
- Andy Gross, business editor, may be reached at 245-3681 (ext.
251) or agross@kauaipubco.com
