Par Pacific Targets Low-20% Returns From Smaller Refining and Logistics Projects
Par Pacific plans to focus on smaller internal refining and logistics projects (“singles and doubles”) aimed at low-20% unlevered returns. Logistics are expected to add about $125 million of adjusted EBITDA, while refining could contribute $365–$395 million, excluding small refinery exemption benefits. With roughly $1.4 billion liquidity as of June 30, 2026, management expects these investments to deepen earnings without relying mainly on large external transactions.