HollyFrontier 2014 Annual Report Download - page 7

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25 years of refining industry experience. We look forward
to benefiting from his leadership as we continue to improve
operational reliability and safety while also completing our
slate of strategic growth projects.
COMMITTED TO THE ENVIRONMENT,
HEALTH, SAFETY AND OUR COMMUNITIES
HollyFrontier Corporation’s core values are health, safety,
corporate citizenship and environmental stewardship. We are
actively investing to reduce the environmental impact of our
operations. Emissions at the Woods Cross Refinery are being
reduced through new investments despite a 50% increase in
plant capacity. We have invested to reduce our water needs,
bringing our usage to half the industry average and have an
active campaign upgrading fired heaters and boilers across
our refineries to reduce our carbon dioxide emissions.
At HollyFrontier, we consider the communities we operate in as
a part of our extended family and are committed to promoting
sustainable social and economic benefits in the areas we oper-
ate. We endeavor to give back both through volunteerism and
charitable giving to improve the lives of those who share the
community where our employees live and work.
Finally, we are dedicated to providing the American consumer
with a secure supply of affordable transportation fuel produced
in a safe and environmentally responsible manner. In 2014, both
the Tulsa and Woods Cross Refineries received the American
Fuel and Petrochemical Manufacturers Association’s Meritorious
Safety Performance Award. We are appreciative for the service
and dedication of all of HollyFrontier’s 2,686 employees who
work hard every day to ensure our business operations are
conducted safely and reliably.
Sincerely,
MICHAEL C. JENNINGS
Chairman, Chief Executive Officer and President
• Woods Cross Refinery Expansion: Our Woods Cross
expansion will increase capacity at our Woods Cross
facility located near Salt Lake City, Utah from 31,000 to
45,000 barrels per day while at the same time reducing
emissions. As part of the expansion, we are increasing
our capacity to process locally sourced black wax crude
from 10,000 barrels to 24,000 barrels a day. Upon comple-
tion, the refinery will have the capability of providing the
Las Vegas market with refined products through the
UNEV Pipeline, as well as serving our traditional Salt Lake
City and other markets across the Inter-Mountain West.
We are on track to complete the expansion in the fourth
quarter of 2015.
• El Dorado Naphtha Fractionation: Our ongoing work at our
El Dorado Refinery, in El Dorado, Kansas, will improve liquid
yields by reducing byproducts such as fuel gas, propane and
butane and reduce the benzene content of our gasoline pool
lower. We are on track for completion in the spring of 2015.
• Tulsa Refinery Modernization: In 2014, we filed a permit to
encompass the full 170,000 barrels per day of crude distilla-
tion capacity at our Tulsa Refinery providing flexibility for
future improvement projects. Currently, plans are underway
to modernize the fluid catalytic cracking unit (FCCU) includ-
ing the installation of updated feed nozzles, an upgraded
catalyst stripper and riser termination device. The investments
being made will increase FCC capacity by 4,000 barrels per
day and improve conversion rates from heavy oils to gasoline
and diesel a further 1%. We are on track to complete the FCC
modernization project in the first quarter of 2016.
• Holly Energy Partners’ Crude Gathering System Expansion:
In 2014, Holly Energy Partners completed the expansion
of 800 miles of pipeline in southeastern New Mexico.
The expanded gathering system has capacity up to
100,000 barrels per day and provides additional delivery
capacity to our Navajo Refinery while also connecting
to major clearing points in Cushing, Oklahoma, Midland,
Texas and Crane, Texas.
In addition to these initiatives, we announced the appointment
of George Damiris to serve as our new Chief Operating Officer
in 2014. George has been a key member for the leadership
team since joining the Company in 2007 and has more than
3
“ In 2014, HollyFrontier delivered improved
operational performance across our refineries.
We are seeing the benefit of past and
ongoing investments being made across
our refining system.”
MICHAEL C. JENNINGS