DALLAS, April 25, 2011 /PRNewswire/ -- Holly Corporation
(NYSE: HOC) reported today it has shut down its West facility crude
unit due to a mechanical failure that was discovered on Friday
night.
The crude unit is now being readied for repairs, which are
expected to take several days. Crude throughput at the
Tulsa refinery is expected to be
reduced by approximately 50% until this crude unit returns to
service.
The following is a 'safe harbor' statement under the Private
Securities Litigation Reform Act of 1995: The statements in this
press release relating to matters that are not historical facts are
'forward-looking statements' within the meaning of the federal
securities laws, including, but not limited to, statements
regarding future operations and repair time. These statements are
based on our beliefs and assumptions using currently available
information and expectations as of the date hereof, are not
guarantees of future events or performance and involve certain
risks and uncertainties. Important factors that could cause our
actual results to differ materially from the expectations reflected
in our forward looking statements include those additional risks
contained in our filings made from time to time with the Securities
and Exchange Commission. Although we believe that the expectations
reflected in these forward-looking statements are reasonable, we
cannot assure you that our expectations will prove correct.
Therefore, actual outcomes and results could materially differ from
what is expressed, implied or forecast in these statements. The
forward-looking statements speak only as of the date made and,
other than as required by law, we undertake no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Holly Corporation, headquartered in Dallas, Texas, is an independent petroleum
refiner and marketer that produces high value light products such
as gasoline, diesel fuel, jet fuel and other high value specialty
products. Holly operates through its subsidiaries a 100,000 barrels
per stream day ("bpsd") refinery located in Artesia, New Mexico, a 125,000 bpsd refinery
in Tulsa, Oklahoma and a 31,000
bpsd refinery in Woods Cross,
Utah. A subsidiary of Holly also owns a 34% interest
(including the general partner interest) in Holly Energy Partners,
L.P.
SOURCE Holly Corporation