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HF Sinclair
HF Sinclair operates over 600,000 barrels per day of refining capacity as a publicly traded downstream energy company headquartered in Dallas.
HF Sinclair
HF Sinclair formed in March 2022 when HollyFrontier Corporation completed its acquisition of The Sinclair Companies' refining and marketing businesses. Tim Go, who previously led HollyFrontier's refining operations, became CEO of the combined entity headquartered in Dallas. The merger brought together HollyFrontier's five refineries with Sinclair's two refineries and branded retail network, creating a downstream giant with a crude-processing capacity exceeding 600,000 barrels per day. The company operates through three segments: Refining, Renewables, and Marketing. Its refining footprint stretches from Wyoming and New Mexico to Oklahoma and Utah, processing light sweet and heavy sour crudes into gasoline, diesel, jet fuel, and specialty lubricants. The Renewables segment — anchored by the Cheyenne and Artesia renewable diesel units — produces low-carbon fuels for California and West Coast compliance markets. In 2023, HF Sinclair completed an expansion boosting combined renewable diesel capacity to 14,000 barrels per day at its New Mexico facility (per the firm, 2023). The Marketing segment includes the iconic Sinclair-branded retail stations across 30 states and the Petro-Canada lubricants business acquired from Suncor in 2023. HF Sinclair reported roughly 4,200 employees at formation and operates a consolidated midstream infrastructure network including pipelines, terminals, and storage across its regions. Tim Go leads a management team drawn largely from the legacy HollyFrontier organization. The firm trades on the NYSE under ticker DINO, acknowledging the Sinclair dinosaur brand. In August 2023, the company closed a $1.1 billion acquisition of Suncor's lubricants division, adding the Petro-Canada brand and a Luxembourg-based specialty products business to its portfolio (per the company, August 2023). What distinguishes HF Sinclair among independent refiners is its integrated renewables strategy alongside a branded retail and specialty lubricants platform. Most independent refiners focus solely on fuel production; HF Sinclair pairs traditional downstream margins with a growing low-carbon business and consumer-facing brand equity, creating a portfolio designed to capture both compliance-market premiums and consumer retail loyalty across energy transition cycles.
General information
Firm type
Asset Manager
Year founded
2022
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Dallas
Corporate office
Dallas, TX, United States
Principals
Tim Go
Chief Executive Officer
Sector focus
Frequently asked questions
How was HF Sinclair formed?
HF Sinclair was created in March 2022 through the merger of HollyFrontier Corporation and the downstream assets of The Sinclair Companies. HollyFrontier acquired Sinclair's refining, marketing, and branded retail operations, while the Sinclair family retained upstream exploration and production assets. The combined company adopted the Sinclair name for branding and its NYSE ticker, DINO.
Who runs investment and capital allocation decisions at HF Sinclair?
Tim Go serves as CEO and leads the executive management team. The board of directors — chaired by Franklin Myers, formerly HollyFrontier's Chairman — approves major capital projects, acquisitions, and capital-return policies including dividends and share repurchases. Strategic investment priorities are set by the CEO and CFO in consultation with the board.
What is HF Sinclair's renewables business, and how significant is it?
HF Sinclair operates renewable diesel production units at its Cheyenne, Wyoming and Artesia, New Mexico refineries with combined capacity expanded to 14,000 barrels per day. The renewables segment serves West Coast low-carbon fuel mandates and generates higher margins per barrel than conventional fuels, though it represents a smaller share of total throughput than the legacy refining business.
Does HF Sinclair own the Sinclair brand?
Yes, HF Sinclair acquired the Sinclair brand and retail network as part of the 2022 merger. The company licenses the Sinclair name and dinosaur logo to roughly 1,500 branded stations across 30 states, while also supplying unbranded wholesale fuel to other retailers. The upstream Sinclair businesses — exploration and production — remain separate under the founding family's ownership.
How does HF Sinclair compare to other independent refiners?
At over 600,000 barrels per day of crude processing capacity, HF Sinclair ranks among the top five US independent refiners by throughput alongside Marathon Petroleum, Valero, Phillips 66, and PBF Energy. Its integrated renewables, lubricants, and branded retail segments differentiate it from peers that concentrate primarily on fuel refining and wholesale distribution.
What role do the legacy families play in HF Sinclair's governance?
The Sinclair family, led by Ross and Earle Holding descendants, retained a significant equity stake at merger and holds board representation. The Holly family and legacy HollyFrontier shareholders also maintain board seats. HF Sinclair is a widely held public company with no single controlling shareholder, governed by a standard board and management structure.
What is the significance of the Petro-Canada lubricants acquisition?
In 2023, HF Sinclair acquired Suncor's global lubricants business — including the Petro-Canada brand and a Luxembourg manufacturing plant — for $1.1 billion. The deal expands the company's specialty products division into international markets and adds a high-margin, branded business that is less correlated to refining-cycle commodity margins.
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