Holly Refining to buy Tulsa refinery - Dallas Business Journal:

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Dallas-based Holly (NYSE: HOC) said its subsidiary has agreec to purchase the refinery and othedr inventory included in the transactionfor $65 million. As part of the Holly will benefit from the receipt of Sunocoi speciality lubricant product trademarks in Northb America and a license for the same products in Centrap andSouth America. The transaction is expected to clos by June 1 pending the approvals ofregulatorh agencies. Holly’s chairman and CEO Matt Cliftonsaid Sunoco’e Tulsa employees and the lubricant products managemenrt team will be joining Holly.
He “By leveraging the respected Sunoco specialty lubricanrt product trademarksand formulations, the facility has consistentlu realized very strong gross margins on theswe specialty lubricant products. This strength in specialtu lubricant products, together with an approximate 40 percent yield of diesek and jet fuel and the bottom upgrading capabilities ofthe plant’s coker, has allowed the overall operation to deliver attractive gross marginws and solid financial results." Clifton addedd that "the facility’s proximity to and direct pipeline connection from the Cushing, Okla.
, crudde oil hub combined with its abilit to deliver directly into Burlington Northern’s Tulsa railroad yard and Magellan’d pipeline system, allows the facility to competitiveluy supply transportation fuels to a number of attractived mid-continent markets.”