Published: 3:15 pm, Wed. Feb. 23rd, 2011Updated: 12:04 pm
By TIM MENICUTCH
Daily Press Editor
A proposed $7 billion merger between Holly Corporation and Frontier Oil Corporation announced today figures to have virtually no impact on the Navajo Refining in Artesia.
Navajo, which produces 100,000 barrels per day and is the biggest of three refineries owned by Holly, will be owned by HollyFrontier Corp. if the merger is completed as expected.
The merged company will have five refineries and will create the most profitable independent refinery in the U.S. on a per barrel basis.
“The two CEOs talked about (the merger) as far back as a couple of years ago,” said Holly spokesperson Alan Palash. “They always felt it would be a natural fit.” … For the rest of the story, subscribe in print and on the web.