Tesoro Corp., operator of the largest refinery in the state, said it has received "indicative bids" to buy its Hawaii operations.

"It was encouraging to us the level of interest on the Hawaii assets," Tesoro President and CEO Greg Goff said Thursday.

San Antonio-based Tesoro said in January it was putting its Campbell Industrial Park refinery and chain of 31 Hawaii gas stations up for sale and that it expects to complete the sale no later than the end of this year.

Goff said that timetable "looks very likely." He said Tesoro expects to receive $300 million from the sale, excluding the divestiture of the property, plant and equipment.

On Wednesday, Tesoro said its net income rose 77 percent in the second quarter after the addition of more retail locations resulted in higher fuel sales.