By BEN LEFEBVRE
HOUSTON -- HollyFrontier
Corp. expects to increase its refining rate by 3% in the second
quarter after finishing refinery maintenance at the
beginning the year.
HollyFrontier, a result of the July merger between US
refiners Holly Corp. and Frontier Oil Corp., will run its five
refineries at a combined 420,000 bpd, a company executive said
HollyFrontier had been running at 408,000 bpd in the first
quarter as it took units down for maintenance at its refinery in Cheyenne, Wyo., for a
HollyFrontier will perform hydrotreater maintenance at its 135,000 bpd refinery in El Dorado, Kansas,
during the second quarter.
The company plans "heavy maintenance" at its refineries
during the third and fourth quarters.
Despite forecasts of a lackluster fuel demand amid a
sluggish economy, HollyFrontier has seen solid fuels sales in
its home region, CEO Mike Jennings said during a conference
call with investors.
"Markets are healthy now, with the Southwest leading the
pack," Jennings said.
Dow Jones Newswires