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Par Pacific Par Pacific Holdings Reports Second Quarter 2021 Results Par Pacific Holdings , Inc. ( NYSE : PARR ) ( “ Par Pacific " or the " Company " ) today reported HOUSTON , Aug. 04 , 2021 ( GLOBE NEWSWIRE ) its financial results for the quarter ended June 30 , 2021 . Second Quarter 2021 Highlights Net Loss of $ 109.0 million , or $ ( 1.84 ) per diluted share • Adjusted Net Loss of $ 48.0 million , or $ ( 0.81 ) per diluted share • Adjusted EBITDA of $ ( 6.7 ) million • Financial results include a $ 27.3 million RINS mark - to - market ( MTM ) expense related to the 2019 and 2020 compliance years • Repaid $ 85 million in debt during June Par Pacific reported a net loss of $ 109.0 million , or $ ( 1.84 ) per diluted share , for the quarter ended June 30 , 2021 , compared to a net loss of $ 40.6 million , or $ ( 0.76 ) per diluted share , for the same quarter in 2020. Second quarter 2021 Adjusted Net Loss was $ 48.0 million , compared to Adjusted Net Loss of $ 90.8 million in the second quarter of 2020. Second quarter 2021 Adjusted EBITDA was $ ( 6.7 ) million , compared to $ ( 50.3 ) million in the second quarter of 2020. A reconciliation of reported non - GAAP financial measures to their most directly comparable GAAP financial measures can be found in the tables accompanying this news release . " We reported strong logistics and retail results during the quarter , reflecting the ongoing recovery and strong summer travel season , " said William Pate , President and Chief Executive Officer . " Our refining business is well - positioned to return to profitability as the market environment improves . With limited capital investment requirements , we are committed to further reducing our debt and improving our capital structure through free cash flow generation . " Refining The Refining segment reported an operating loss of $ 99.1 million in the second quarter of 2021 , compared to an operating loss of $ 36.8 million in the second quarter of 2020. Adjusted Gross Margin for the Refining segment was $ 19.2 million in the second quarter of 2021 , compared to $ ( 22.3 ) million in the second quarter of 2020 . Refining Adjusted EBITDA was $ ( 28.7 ) million in the second quarter of 2021 , compared to $ ( 71.7 ) million in the second quarter of 2020. Second quarter 2021 Refining segment Adjusted EBITDA was negatively impacted by a MTM expense of $ 27.3 million related to increased RINs prices . Hawaii The 3-1-2 Singapore Crack Spread was $ 4.38 per barrel in the second quarter of 2021 , compared to $ ( 0.14 ) per barrel in the second quarter of 2020. Throughput in the second quarter of 2021 was 84 thousand barrels per day ( Mbpd ) , compared to 67 Mbpd for the same quarter in 2020 . Production costs were $ 3.40 per throughput barrel in the second quarter of 2021 , compared to $ 4.45 per throughput barrel in the same period in 2020 . The Hawaii refinery's Adjusted Gross Margin of $ 0.34 per barrel during the second quarter of 2021 reflects a RINS MTM expense of approximately $ 14.0 million , or $ 1.83 per barrel . Washington The Pacific Northwest 5-2-2-1 Index averaged $ 16.05 per barrel in the second quarter of 2021 , compared to $ 11.92 per barrel in the second quarter of 2020. The Washington refinery's throughput was 39 Mbpd in the second quarter of 2021 , compared to 36 Mbpd in the second