HollyFrontier

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HollyFrontier Corporation
Type Public
Traded as NYSEHFC
S&P 400 Component
Industry Oil and Gas
Founded 1947
Headquarters Dallas, Texas, United States
Key people Michael C Jennings (CEO)
Products Gasoline, Diesel, Jet Fuel, Asphalt and Other Specialty Products
Net income Increase $1.727 billion[1]
Total assets Increase $10.328 billion[1]
Total equity Increase $6.642 billion[1]
Employees 2,534[1]
Website www.hollyfrontier.com

The HollyFrontier Corporation is a Fortune 500 company based in Newport Beach, California. HollyFrontier is a petroleum refiner and distributor of petroleum products, from gasoline to petroleum-based lubricants and waxes.[2] Michael C Jennings currently holds the title as CEO. Mr. Jennings, an oil expert has more than 28 years in the industry. .[3] The company has primary refining operations in New Mexico and Utah,[4] as well as three other states.

History[edit]

HollyFrontier Corporation was originally incorporated under the name General Appliance Corporation in 1947 and changed its name to Holly Corporation in 1952.[5] 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.[6]

Operations[edit]

HollyFrontier operates 5 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[edit]

Holly Corporation and Frontier Oil merged forming HollyFrontier Corporation in July 2011.[7][8]

References[edit]

  1. ^ a b c d 2012 Annual Report
  2. ^ hollyfrontier.com
  3. ^ "Fortune 500 2010: Top 1000 American Companies". CNN. 
  4. ^ Plunkett, Jack W. (November 2007). PLunkett's Energy Industry Almanac. Plunkett Research. ISBN 978-1-59392-442-3. 
  5. ^ HollyFrontier Corporation company history
  6. ^ Tulsa World. "Holly to buy Sinclair refinery." October 21, 2009. Accessed February 8, 2011.[1]
  7. ^ Forbes. "Holly-Frontier Refining Merger: It Sure Took Long Enough." February 22, 2011. Accessed July 1, 2011. [2]
  8. ^ Official Press Release. "HollyFrontier Corporation completes merger" July 1, 2011 [3]

External links[edit]