US refiner HF Sinclair plans to continue to grow its lubricants and specialty products segment even as it focuses on growth opportunities in other segments of its business.
We still feel like there’s some meat on the bone in terms of opportunities to improve the business, grow its finished lubricants cut or proportion at the expense of base oil sales.HF Sinclair Chief Executive Officer Michael Jennings
HF Sinclair’s lube and specialty products segment saw profit surge to a record high in the first quarter of the year.
The segment includes Group I base oils production at the Tulsa refinery in Oklahoma, Group III base oils production at Petro-Canada’s Mississauga, Ontario refinery, and production of specialty products like white oils at Sonneborn’s facilities in the US and Europe.
“Our present intention is try to grow this business and realize the opportunity inherent in it,” Jennings said in an earnings call.