HF Sinclair

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HF Sinclair Corporation
TypePublic company
NYSE: DINO
S&P 400 component
IndustryPetroleum industry
Founded1947; 77 years ago (1947)
HeadquartersDallas, Texas, United States
Key people
Franklin Myers, Chairman
Michael C. Jennings, CEO
Richard L. Voliva III, CFO
ProductsGasoline
Diesel fuel
Jet fuel
Lubricants
Asphalt
RevenueDecrease $11.183 billion (2020)
Decrease -$514 million (2020)
Total assetsDecrease $11.506 billion (2020)
Total equityDecrease $5.168 billion (2020)
Number of employees
3,891 (2020)
Footnotes / references
[1]

HF Sinclair Corporation (HF Sinclair) is a diversified energy company that manufactures and sells products such as gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, and specialty and modified asphalt, among others. It is based in Dallas, Texas.

The company operates seven complex oil refineries with a total crude oil processing capacity of 678,000 barrels per stream day. It has facilities in Cheyenne, Wyoming (52,000 barrels per day), El Dorado, Kansas (coking refinery - 135,000 bbl/d), Artesia, New Mexico (100,000 bbl/d), Tulsa, Oklahoma (125,000 bbl/d), Woods Cross, Utah (45,000 bbl/d), Sinclair, WY and Casper, WY. It operates three lubricants and specialties facilities in Mississauga (15,600 bbl/d), Petrolia, PA and in the Netherlands. The company also operates asphalt terminals in Arizona, New Mexico, and Oklahoma.[1]

The company ranked 279th in the 2021 Fortune 500, based on its 2020 revenue.[2]

History

The company was incorporated under the name General Appliance Corporation in 1947 and changed its name to Holly Corporation in 1952.[3]

In 2003, Frontier Oil agreed to acquire Holly but Holly later cancelled the merger, leading to litigation.[4]

In 2009, Holly Corporation acquired 2 refineries in Tulsa, Oklahoma: one from Sinclair Oil Corporation for $128 million and one from Sunoco.[5]

In July 2011, Holly Corporation and Frontier Oil merged forming HollyFrontier Corporation.[6][7]

In February 2017, the company acquired Suncor Energy's Petro-Canada Lubricants unit in Mississauga, Ontario, Canada for C$1.125 billion.[8]

In early 2019, HollyFrontier acquired Sonneborn, a manufacturer of food grade white mineral oils and waxes in Petrolia, Pennsylvania, for $655 million.[9]

In June 2020, HollyFrontier announced its Cheyenne refinery will cease processing petroleum, instead shifting production solely to renewable fuel, with the loss of approximately 200 workers.[10]

In May 2021, HollyFrontier agreed to purchase the Shell Anacortes Refinery near Anacortes, Washington, with capacity of 149,000 bbl/d, for $350 million.[11]

In August 2021, HollyFrontier agreed to purchase the assets of Sinclair Oil Corporation, including its two refineries near Casper, Wyoming, and Sinclair, Wyoming, for $2.6 billion.[12] The succeeding company, HF Sinclair Corporation, is expected to finalize the merger mid-2022.[13]

In March 14, 2022, HollyFrontier and Holly Energy Partners announced the completion of transactions with The Sinclair Companies and the establishment of the new parent company, HF Sinclair Corporation (NYSE:DINO).[14]

In July of 2022 HF Sinclair laid off approximately 97 people in the Sinclair, Wyoming refinery.[citation needed]

Carbon footprint

HollyFrontier reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 6,167 Kt (-122 /-1.9% y-o-y).[15]

HollyFrontier's annual Total CO2e Emissions - Location-Based Scope 1 + Scope 2 (in kilotonnes)[15]
Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
5,742 6,272 6,182 6,289 6,167

References

  1. ^ a b "HollyFrontier Corporation 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Fortune 500: HollyFrontier Corporation". Fortune.
  3. ^ "HollyFrontier Corporation company history". HollyFrontier Corporation.
  4. ^ "Frontier broke merger contract with Holly, court rules". American City Business Journals. May 2, 2005.
  5. ^ Walton, Rod (October 20, 2009). "Holly Corp. will purchase Tulsa Sinclair refinery". Tulsa World.
  6. ^ "HollyFrontier Corporation Completes Merger" (Press release). PR Newswire. July 1, 2011.
  7. ^ Walton, Rod (June 29, 2011). "Oil-refinery corporations Holly, Frontier complete merger". Tulsa World.
  8. ^ "HollyFrontier Closes Acquisition of Petro-Canada Lubricants Business" (Press release). Business Wire. February 1, 2017.
  9. ^ "HollyFrontier Closes Acquisition of Sonneborn" (Press release). Business Wire. February 1, 2019.
  10. ^ "HollyFrontier announces plan to lay off roughly 200 employees at Cheyenne refinery | Local News | wyomingnews.com".
  11. ^ "HollyFrontier Announces Acquisition of Puget Sound Refinery" (Press release). Business Wire. May 4, 2021.
  12. ^ "HollyFrontier to buy most of Sinclair Oil's assets in $2.6 bln deal | Reuters".
  13. ^ "HF Sinclair Vs. Phillips 66: The Story Continued | Seeking Alpha". seekingalpha.com.
  14. ^ Testa, Laura. "HollyFrontier Corporation's Exchange Offers and Consent Solicitations".
  15. ^ a b "HollyFrontier's Sustainability Report for 2020Q4" (PDF). Archived from the original (PDF) on December 11, 2021. Alt URL

External links

  • Official website
  • Business data for HF Sinclair Corporation:
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