Holly Corporation Plans Ultra-Low-Sulfur Diesel Project in Oklahoma

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Researched by Industrial Info Resources (Sugar Land, Texas)--Holly Corporation (NYSE:HOC) (Dallas, Texas) is planning to build a 25,000-barrel-per-day (BBL/d) hydrotreater and sulfur recovery unit to allow its Tulsa refinery in Oklahoma to produce ultra-low-sulfur diesel. The refinery was acquired from Sunoco (NYSE:SUN) (Philadelphia, Pennsylvania) in June 2009 for $65 million, and Holly is planning to select a company in the summer to perform engineering, procurement and construction services. Civil work is expected to begin in late 2009, and construction is estimated to take about 24 months to complete.

Holly is an independent petroleum refiner and marketer that produces high-value light products, such as gasoline, diesel fuel and jet fuels. The company has two other refineries, one in Artesia, New Mexico, and another in Woods Cross, Utah, that process 85,000 BBL/d and 31,000 BBL/d, respectively. The Artesia refinery processes sour crude oil and produces jet fuel, gasoline and diesel refined products. The company acquired the Woods Cross refinery in June 2003 from ConocoPhillips (NYSE:COP) (Houston, Texas). The refinery processes Canadian sour crude oil and regional sweet and black wax crude. In addition, the refinery processes or blends 2,000 BBL/d of natural gasoline, gas oil and butane.

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