Par Pacific's announcement of a new intermediation financing agreement with Citigroup Energy Inc. is significant in several ways. Firstly, the termination of the previous agreement with J. Aron & Company LLC suggests that Par Pacific has found more favorable terms or conditions with Citi, which could potentially improve their cash flow situation and reduce financing costs. This would be a positive development for the company's liquidity and operational efficiency. The increase in the asset-based revolving credit facility (ABL) to up to $1.4 billion further enhances Par Pacific's financial flexibility. By adding collateral assets in Hawaii, including refined product inventory and accounts receivable, Par Pacific has effectively expanded its borrowing base. This could result in better terms and conditions for borrowing, providing additional working capital for strategic initiatives or operational needs.