HollyFrontier Corp., Dallas, has cut total consolidated capital expenditures for 2020 by 15% to $525-625 million from its previous guidance of $623-729 million due to current market conditions.
The company’s refining segment is currently running at 70% of capacity. Construction of the renewable diesel unit at the company’s 100,000-b/d Navajo refinery in Artesia, NM, will continue, it said.
The RDU will have a production capacity of about 125 million gal/year, enabling the refinery to process soybean oil and other renewable feedstocks into renewable diesel (OGJ Online, Nov. 19, 2019). The project is scheduled to be completed during first-quarter 2022.
Market conditions will be monitored, and further changes could be made as circumstances dictate, the company said.