Aloha Petroleum

From Wikipedia, the free encyclopedia

Aloha Petroleum, Ltd.
Type	Private company
Founded	Honolulu (early 1900's)
Headquarters	Honolulu, USA
No. of locations	60
Area served	Oahu, Hawaii
Industry	Retail and wholesale trade
Services	Petroleum products, convenience stores
Website	www.alohagas.com

Aloha Petroleum, Ltd. is a company that owns numerous convenience stores (Island Mini Mart) and gas stations (Aloha Quality Gas) in Hawaii, many of which are operated by independent convenience store owners such as 7-Eleven.

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 or Island Mini Mart, such as Costco and Freedom, NEX and AAFES. Aloha Petroleum Ltd. also owns the Mahalo branded gas stations.

Aloha was part of a controversial deal in which Harken Energy sold the company to a group of investors which 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. This technique of inflating profits was used more famously by Enron. The same accounting firm, Arthur Andersen was responsible for the Aloha Petroleum deal.

[edit] References

This article does not cite any references or sources. (January 2008)
Please help improve this article by adding citations to reliable sources. Unverifiable material may be challenged and removed.