HollyFrontier

The HollyFrontier Corporation is a Fortune 500 company based in Dallas, TX. HollyFrontier is a petroleum refiner and distributor of petroleum products, from gasoline to petroleum-based lubricants and waxes.[2] Michael Jennings is CEO and president of HollyFrontier,[3] replacing George Damaris on 1 January 2020.[4] The company has primary refining operations in Kansas, New Mexico, Oklahoma, Utah, and Wyoming.[5]

HollyFrontier Corporation
TypePublic
IndustryOil and Gas
Founded1947
Headquarters
Dallas, Texas
,
United States
Key people
Michael Jennings (CEO and President)
ProductsGasoline, Diesel, Jet Fuel, Asphalt and Other Specialty Products
Revenue $14.251 billion[1]
$0.805 billion[1]
Total assets $10.692 billion[1]
Total equity $5.371 billion[1]
Number of employees
3,522[1]
Websitehollyfrontier.com

History

HollyFrontier Corporation was originally incorporated under the name General Appliance Corporation in 1947 and changed its name to Holly Corporation in 1952.[6] Holly Corporation bought both the Sinclair (originally Texaco) and the Sunoco (originally Cosden) refineries in Tulsa, Oklahoma in 2009, and announced that it would operate both as a single refinery.[7]

In early 2017, HollyFrontier bought Suncor's Petro-Canada Lubricants unit in Mississauga, Ontario, Canada.[8]

Operations

HollyFrontier operates 6 refineries:

The company also maintains the following divisions:

  • Holly Energy Partners - logistical assets including pipelines, terminals, and tankage
  • Lubricants and Specialty Products - manufacturing and marketing of lubricants specialty products
  • Asphalt - commodity and modified asphalt products are marketed in Arizona, New Mexico, Texas, and northern Mexico

Merger

Holly Corporation and Frontier Oil merged forming HollyFrontier Corporation in July 2011.[10][11]

References
  1. 2017 Annual Report
  2. hollyfrontier.com
  3. https://www.reuters.com/article/us-hollyfrontier-ceo/refiner-hollyfrontier-to-bring-back-jennings-as-ceo-idUSKBN1XP1K9
  4. "HollyFrontier". Fortune. Retrieved 2018-11-23.
  5. Plunkett, Jack W. (November 2007). PLunkett's Energy Industry Almanac. Plunkett Research. ISBN 978-1-59392-442-3.
  6. HollyFrontier Corporation company history
  7. Tulsa World. "Holly to buy Sinclair refinery." October 21, 2009. Accessed February 8, 2011.
  8. Petro-Canada deal helps HollyFrontier's offerings - Kyle Brown, Rubber & Plastic News, 19 January 2018
  10. Forbes. "Holly-Frontier Refining Merger: It Sure Took Long Enough." February 22, 2011. Accessed July 1, 2011.
  11. Official Press Release. "HollyFrontier Corporation completes merger" July 1, 2011 Archived 2011-07-20 at the Wayback Machine
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.