Houston refiner invests in Pacific Northwest gas stations

Houston-based refiner Par Pacific Holdings said it's buying a bevy of retail gas stations and convenience stores in Washington and Idaho to support its Wyoming refining operations.

Par Pacific said it's acquiring 33 Cenex Zip Trip convenience stores from CHS Inc. for more than $70 million. The idea is to buy into a more integrated business model with refining, pipeline and retail operations all owned by Par Pacific in the Pacific Northwest region.

"We are pleased to begin 2018 with a strategic acquisition to complement our Wyoming refining and logistics activities," said William Pate, Par Pacific's president and CEO.

RELATED: Houston's Par Pacific buys Wyoming refinery, pipeline

Although Par Pacific is headquartered in Houston, many of its refining and pipeline assets are in Hawaii. In fact, Par Pacific is Hawaii's largest oil refiner. However, the company is increasingly looking to expand in the continental U.S, and this deal is the latest example.