The investment bank will help the oil and gas company find potential buyers for the plant that producers 54,000 barrels of oil a day, according to Bloomberg. The company hasn't yet made any decisions on selling the refinery other than determining the interest level of potential buyers, a company spokesperson told the publication.
The sale of the Kapolei refinery is part of Chevron's plan to divest $10 billion worth of its assets over the course of the next three years.
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TheStreet Ratings team rates CHEVRON CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHEVRON CORP (CVX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: