Holly Refining to buy Tulsa refinery - Dallas Business Journal:

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Dallas-based Holly (NYSE: HOC) said its subsidiary has agreecd to purchase the refinery and other inventoryh included in the transactionfor $65 million. As part of the Holly will benefit from the receipt of Sunoco speciality lubricanr product trademarks in North America and a licens for the same products in Central andSouth America. The transaction is expected to closs by June 1 pending the approvalss ofregulatory agencies. Holly’ds chairman and CEO Matt Cliftonsaid Sunoco’s Tulsa employeexs and the lubricant products management team will be joiningt Holly.
He added, “Bhy leveraging the respected Sunoco specialty lubricany product trademarksand formulations, the facilitt has consistently realized very strong gross marginsx on these specialty lubricant products. This strengtbh in specialty lubricant products, together with an approximate 40 percent yield of dieseo and jet fuel and the bottoma upgrading capabilities ofthe plant’e coker, has allowed the overall operation to deliverr attractive gross margins and solid financial results." Cliftonj added that "the facility’s proximity to and direct pipeline connection from the Cushing, Okla.
, crude oil hub combiner with its ability to deliver directly into Burlington Northern’s Tulsa railroad yard and Magellan’sw pipeline system, allows the facility to competitively supply transportation fuels to a numberf of attractive mid-continent markets.”