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HF Sinclair Plan More 2023 Turnarounds After High 2022 Refining Rates

REFINING
  • “HF Sinclair’s solid third quarter results were driven by robust product margins and record throughputs in our refining segment” according to HF Sinclair’s CEO, Michael Jennings.
  • The company's refinery gross margin for the July-September quarter stood at 31.47$/bbl, a 112% increase compared with a year earlier.
  • Its refinery throughput rose 54% to 685kbpd, and utilization stood at 95.2% compared with last year's 102.8%.
  • The high 2022 refining rates mean more 2023 outages with plans for more turnarounds in 2023 than in 2022.
  • HF Sinclair expect Q4 2022 throughput to be between 620kbpd to 650kbpd with refineries maximizing distillate output in 2022.

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