Aloha Petroleum

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Aloha Petroleum, Ltd.
Subsidiary
Industry Retail and wholesale trade
Founded Honolulu (early 1900s)
Headquarters Honolulu, United States
Number of locations
60
Area served
Oahu, Hawaii
Services Petroleum products, convenience stores
Parent Sunoco
Website www.alohagas.com

Aloha Petroleum, Ltd. is a company that owns numerous convenience stores (Aloha Island Mart) and gas stations (Aloha Quality Gas) in Hawaii, many of which are operated by 7-Eleven convenience stores.[1]

The company also has federal, state, city and county contracts and supplies gasoline to other convenience stores and gas stations not branded as Aloha Gas, Including Costco, Navy Exchange and Army and Air Force Exchange Service. Aloha Petroleum Ltd. also owns the Shell Hawaii and Mahalo branded gas stations.

Aloha was part of a controversial deal in which Harken Energy sold the company to a group of investors that included two of Harken's own board members, turning Harken's equity stake in Aloha into a loan, and thereby disguising most of their 1989 losses.[2] This technique of inflating profits was used more famously by Enron. The same accounting firm, Arthur Andersen, was responsible for the Aloha Petroleum deal.[3]

In 2014, Aloha was acquired by Sunoco, a company controlled by Energy Transfer Partners.[4]

References[edit]

  1. ^ https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=4238019
  2. ^ Wogan, Chris (30 November 2004). Amiraqa And The New American Century. Lulu.com. p. 91. ISBN 978-1-4116-1759-9. Retrieved April 29, 2012. 
  3. ^ "The Aloha Petroleum Deal". J. Bradford DeLong. July 13, 2002. 
  4. ^ "Aloha Saying Goodbye to Hawaii". CSP Daily News. Retrieved 2016-05-15. 

External links[edit]