HF Sinclair
{{Distinguish|Sinclair Broadcast Group }}
{{Short description|U.S. energy company}}
{{Infobox company
| name = HF Sinclair Corporation
| logo =
| type = Public company|
| traded_as = {{NYSE|DINO}}
S&P 400 component
| foundation = {{Start date and age|1947}}
| location = Dallas, Texas, United States
| key_people = Franklin Myers, Chairman Tim Go, CEO
| industry = Petroleum industry
| products = Gasoline
Diesel fuel
Jet fuel
Lubricants
Asphalt
| revenue = {{decrease}} $11.183 billion (2020)
| net_income = {{decrease}} -$514 million (2020)
| assets = {{decrease}} $11.506 billion (2020)
| equity = {{decrease}} $5.168 billion (2020)
| num_employees = 3,891 (2020)
| website = {{URL|Hfsinclair.com}}
| footnotes = {{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/48039/000004803921000012/hfc-20201231.htm | title=HollyFrontier Corporation 2020 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}
}}
HF Sinclair Corporation (HF Sinclair) is an 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, United States.
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, Wyoming and Casper, Wyoming. It operates three lubricants and specialties facilities in Mississauga (15,600 bbl/d), Petrolia, Pennsylvania and in the Netherlands. The company also operates asphalt terminals in Arizona, New Mexico, and Oklahoma.
The company ranked 279th in the 2021 Fortune 500, based on its 2020 revenue.{{cite web | url=https://fortune.com/company/hollyfrontier/fortune500/ | title=Fortune 500: HollyFrontier Corporation | publisher=Fortune}}
History
General Appliance Corporation incorporated in 1947 and changed its name to Holly Corporation in 1952.{{Cite web | url=https://hollyfrontier.com/about-us/company-history/default.aspx | title=HollyFrontier Corporation company history | publisher=HollyFrontier Corporation}}
In 2003, Frontier Oil agreed to acquire Holly but Holly later cancelled the merger, leading to litigation.{{Cite news | url=https://www.bizjournals.com/houston/stories/2005/05/02/daily6.html | title=Frontier broke merger contract with Holly, court rules | work=American City Business Journals | date=May 2, 2005}}
In 2009, Holly Corporation acquired 2 refineries in Tulsa, Oklahoma: one from Sinclair Oil Corporation for $128 million and one from Sunoco.{{Cite news | url=https://tulsaworld.com/archive/holly-corp-will-purchase-tulsa-sinclair-refinery/article_62ca500e-f018-5394-be2e-556ea9705112.html | title=Holly Corp. will purchase Tulsa Sinclair refinery | first=Rod | last=Walton | work=Tulsa World | date=October 20, 2009}}
In July 2011, Holly Corporation and Frontier Oil merged forming HollyFrontier Corporation.{{Cite press release | url=https://www.prnewswire.com/news-releases/hollyfrontier-corporation-completes-merger-124844164.html | title=HollyFrontier Corporation Completes Merger | publisher=PR Newswire | date=July 1, 2011}}{{Cite news | url=https://tulsaworld.com/business/oil-refinery-corporations-holly-frontier-complete-merger/article_8d9e43bd-9c6c-55ce-b650-125357db5e24.html | title=Oil-refinery corporations Holly, Frontier complete merger | first=Rod |last=Walton | work=Tulsa World | date=June 29, 2011}}
In February 2017, the company acquired Suncor Energy's Petro-Canada Lubricants unit in Mississauga, Ontario, Canada for C$1.125 billion.{{Cite press release | url=https://www.businesswire.com/news/home/20170201005886/en/HollyFrontier-Closes-Acquisition-of-Petro-Canada-Lubricants-Business | title=HollyFrontier Closes Acquisition of Petro-Canada Lubricants Business | publisher=Business Wire | date=February 1, 2017}}
In early 2019, HollyFrontier acquired Sonneborn, a manufacturer of food grade white mineral oils and waxes in Petrolia, Pennsylvania, for $655 million.{{Cite press release | url=https://www.businesswire.com/news/home/20190201005391/en/HollyFrontier-Closes-Acquisition-of-Sonneborn | title=HollyFrontier Closes Acquisition of Sonneborn | publisher=Business Wire | date=February 1, 2019}}
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.{{cite web| url = https://www.wyomingnews.com/news/local_news/hollyfrontier-announces-plan-to-lay-off-roughly-200-employees-at-cheyenne-refinery/article_e5dad692-d50d-5eb5-a253-d0f35d672d7f.html| title = HollyFrontier announces plan to lay off roughly 200 employees at Cheyenne refinery {{!}} Local News {{!}} wyomingnews.com| date = June 2020}}
In May 2021, HollyFrontier agreed to purchase the Shell Anacortes Refinery near Anacortes, Washington, with capacity of 149,000 bbl/d, for $350 million.{{Cite press release | url=https://www.businesswire.com/news/home/20210504005888/en/HollyFrontier-Announces-Acquisition-of-Puget-Sound-Refinery | title=HollyFrontier Announces Acquisition of Puget Sound Refinery | publisher=Business Wire | date=May 4, 2021}}
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.{{cite web| url = https://www.reuters.com/business/energy/hollyfrontier-buy-refining-logistics-assets-sinclair-about-18-bln-deal-2021-08-03/| title = HollyFrontier to buy most of Sinclair Oil's assets in $2.6 bln deal| website = Reuters}} The succeeding company, HF Sinclair Corporation, finalized the merger in December 2023.{{Cite web|url=https://seekingalpha.com/article/4500095-hf-sinclair-vs-phillips-66|title=HF Sinclair Vs. Phillips 66: The Story Continued | Seeking Alpha|website=seekingalpha.com}}{{Cite web |date=2023-12-01 |title=HF Sinclair Corporation Completes Acquisition of Holly Energy Partners, L.P. |url=https://finance.yahoo.com/news/hf-sinclair-corporation-completes-acquisition-141100445.html |access-date=2024-03-19 |website=Yahoo Finance |language=en-US}}
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).{{Cite web|url=https://globallegalchronicle.com/hollyfrontier-corporations-exchange-offers-and-consent-solicitations/|title=HollyFrontier Corporation's Exchange Offers and Consent Solicitations|first=Laura|last=Testa|date=2 May 2022 }}
In July 2022, HF Sinclair announced the layoff of approximately 87 people in the Sinclair, Wyoming refinery.{{cite web|url= https://trib.com/news/state-regional/thirty-two-laid-off-at-sinclair-refinery-55-more-jobs-to-be-cut-in-september/article_61f17db8-03b6-11ed-9216-6f9d6f3a95c1.html |title=Thirty-two laid off at Sinclair refinery, 55 more jobs to be cut in September|date=14 July 2022 |publisher=Casper Star-Tribune, July 14, 2022|accessdate=August 26, 2023}}
References
{{reflist}}
{{S&P 400 companies}}
External links
- {{Official website|https://www.hollyfrontier.com/}}
- {{Finance links
| name = HF Sinclair Corporation
| google = DINO
| yahoo = DINO
| bloomberg = DINO:US
| reuters = DINO.N
| sec_cik = 1915657
| nasdaq = DINO
}}
{{Authority control}}
Category:1947 establishments in Texas
Category:American companies established in 1947
Category:Companies based in Dallas
Category:Companies listed on the New York Stock Exchange
Category:Energy companies established in 1947
Category:Non-renewable resource companies established in 1947
Category:Oil companies of the United States