HollyFrontier

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HollyFrontier Corporation
TypePublic company
NYSE: HFC
S&P 400 component
IndustryPetroleum industry
Founded1947; 74 years ago (1947)
HeadquartersDallas, Texas, United States
Key people
Franklin Myers, Chairman
Michael C. Jennings, CEO & President
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)
Websitehollyfrontier.com
Footnotes / references
[1]

HollyFrontier Corporation is an American company that produces gasoline, diesel fuel, jet fuel, lubricants, and asphalt. It is based in Dallas, Texas.

The company operates four complex oil refineries with a total crude oil processing capacity of 405,000 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), and Mississauga (15,600 bbl/d). The company also operates asphalt terminals in Arizona, New Mexico, and Oklahoma.[1]

The company is ranked 279th on the Fortune 500.[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.

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).[13]

HollyFrontier's annual Total CO2e Emissions - Location-Based Scope 1 + Scope 2 (in kilotonnes)[13]
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. ^ 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
  11. ^ "HollyFrontier Announces Acquisition of Puget Sound Refinery" (Press release). Business Wire. May 4, 2021.
  12. ^ https://www.reuters.com/business/energy/hollyfrontier-buy-refining-logistics-assets-sinclair-about-18-bln-deal-2021-08-03/[bare URL]
  13. ^ a b "HollyFrontier's Sustainability Report for 2020Q4". Archived from the original (PDF) on October 14, 2021.

External links[]

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