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DINO-News
DINO-Events
Phillips 66 and Kinder Morgan Finalize Joint Venture for Western Gateway Pipeline
Phillips 66 (PSX), Kinder Morgan (KMI) and HF Sinclair Corporation (DINO) announced they have finalized a joint venture agreement and made a final investment decision to move forward with the proposed Western Gateway Pipeline system. Under the joint venture, Phillips 66, Kinder Morgan and HF Sinclair will own 49.9%, 35.1% and 15% of the system, respectively. "The final investment decision reflects the strength of this industry partnership. By combining the capabilities of Phillips 66, Kinder Morgan and HF Sinclair, Western Gateway is expected to strengthen fuel supply reliability and deliver a more cost-effective, resilient path for growing markets across the West," said Phillips 66 Chairman and CEO Mark Lashier. "This project will connect our Central Corridor and Gulf Coast refining assets to our West Coast and Southwest Marketing assets and demonstrates the value of our integrated business model and the opportunities it creates."
Sinclair Oil Launches Mammoth Monday Weekly Fuel Savings Event
Sinclair Oil announced the national launch of Mammoth Monday, a new weekly fuel savings event designed to reward loyal customers with one of Sinclair's biggest fuel discounts of the week. Beginning Monday, Aug. 3, 2026, eligible DINOPAY users can activate an exclusive in-app coupon and save 20 cents per gallon-or 25 cents per gallon with Mobile Advantage-every Monday at participating Sinclair stations. Available exclusively through the DINOPAY mobile app, Mammoth Monday gives eligible customers an extra discount every Monday at participating Sinclair locations. Customers simply activate the coupon before fueling to receive the offer, with enhanced savings available through Mobile Advantage when using an eligible linked bank account.
HF Sinclair Enters Long-Term Agreements with SK Enmove and Chevron
HF Sinclair's (DINO) Lubricants & Specialties segment has entered into strategic long-term commercial agreements with SK Enmove, CIC of SK On Co., Ltd., and Chevron Products Company (CVX) establishing a diversified base oil supply network to support customers across North America. Under these agreements, SK Enmove will supply Group III base oils, and Chevron will supply Group II base oils to HF Sinclair's Lubricants & Specialties segment. HF Sinclair's Lubricant's & Specialties business will serve as SK Enmove's distributor for YUBASE Group III base oils in key regional markets in North America, while also distributing Chevron-branded Group II base oils in Canada and select regions of the United States. These agreements support HF Sinclair's recently announced plans to retire its base oil refining assets in Mississauga, Ontario. The transition to the new base oil solutions model is expected to be complete in the second half of 2027.
HF Sinclair Reports Q2 Revenue of $10.39B, Dividend Up 5%
Reports Q2 revenue $10.39B, consensus $8.95B. HF Sinclair's Chief Executive Officer, Franklin Myers, commented, "During the quarter, we delivered strong financial results across each of our business segments, underpinned by strong operational and commercial execution. We returned $265 million to stockholders through dividends and share repurchases and today we also announced a 5% increase to our quarterly dividend, demonstrating our continued commitment to return capital to shareholders. Looking forward, we believe the fundamentals that drove strong second quarter results across each of our business segments will persist in the third quarter, providing a positive backdrop as we move through the remainder of the year."
HF Sinclair Announces Separation of Lubricants & Specialties Segment
HF Sinclair announced plans to pursue a separation of its Lubricants & Specialties segment through the capital markets, creating a new independent, publicly traded company. As an independent company, Lubricants & Specialties will operate a capital-light business model built for greater financial flexibility and stronger, more consistent free cash flow - while leveraging its core strengths in technology, globally recognized brands and extensive channels-to-market. As part of this transformation, HF Sinclair has decided to retire its base oil refining assets in Mississauga, Ontario with the transition expected to be substantially completed over the course of 2027. The Lubricants & Specialties business will maintain a strong presence in the Ontario region, including continued operation of its R&D laboratory, lubricant blending and packaging, as well as supply chain, logistics, and commercial operations. The business will continue to deliver base oil solutions through new strategic commercial agreements with two premier global base oil manufacturers, complemented by continued access to Group I and specialty products from HF Sinclair's Tulsa refinery. Together, these sources will enable the independent Lubricants & Specialties business to continue offering a full suite of Group I, Group II, and Group III base oils to the market. The transformed model is expected to improve service through a more conveniently located distribution network across North America, while maintaining the quality standards customers expect across base oils, finished lubricants and specialty offerings. "This announcement marks an important step in HF Sinclair's portfolio optimization strategy," Franklin Myers, Chairperson and Chief Executive Officer. "The separation will unlock value by creating two focused businesses with enhanced flexibility to pursue their respective strategic and capital priorities."
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