Pivoting during the COVID-19 crisis, HollyFrontier announced Wednesday that is limiting onsite staff at all facilities to essential operational personnel only.
As a result, the company is carefully evaluating projects at the refinery and limiting or postponing nonessential projects and contractor work. Based on market conditions, the refining segment is running at about 70% of capacity.
A publicly traded firm oil refiner headquartered in Dallas, HollyFrontier Corp. employs about 650 full-time workers in Tulsa, where it has operated since 2009.
“The health and safety of our employees, communities, and contractors remain our top priority as we navigate this challenging environment,” Mike Jennings, president and CEO, said in a statement. “HollyFrontier is implementing precautionary measures to protect our workforce so that we may continue to safely operate our facilities.
“We maintain a strong balance sheet and liquidity position precisely as a buffer against economic downturns such as we are experiencing today. While the COVID-19 pandemic is unprecedented, we believe our disciplined approach to capital allocation and leverage will help us to withstand current market conditions.”
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