December 25, 2014 11:28 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Flint Hills Resources, LLC

Company Overview

Flint Hills Resources, LLC, through its subsidiaries, operates as a refining, chemicals, and grain processing company. It produces and markets various petroleum products, including asphalt, Group II base oils, gasoline, jet fuels, diesel, biodiesel, and heating oil; and other value-added fuels, such as cleaner-burning gasoline and performance diesel fuels. The company also offers chemicals and related products, such as aromatics, intermediates and EPS solutions, olefins, and polymers for use in synthetic fibers, agricultural chemicals, packaging, coatings, and appliance and automotive parts. It distributes its products in North America, Central and South America, Europe, Australia, New Zeala...

4111 East 37th Street North

Wichita, KS 67220

United States

Founded in 2002

Phone:

316-828-3477

Key Executives for Flint Hills Resources, LLC

Chief Executive Officer and President
Age: 51
Vice President of Operations
Vice President of Public Affairs and Government Affairs
Director of Public Affairs
Ventures Director
Compensation as of Fiscal Year 2014.

Flint Hills Resources, LLC Key Developments

Flint Hills Resources Begins Construction Phase of Project Eagle Ford

Flint Hills Resources, LLC has begun the construction phase of a project, named Project Eagle Ford, which will enable its Corpus Christi West refinery to process more domestic crude into transportation fuels. This project is expected to cost around $600 million, require around 2,000 contractors and be completed in 36 months. Current capacity of the West refinery is about 230,000 barrels per day. After the project is complete, it will have the capability to process 100% domestic crude. It owns and operates two refineries in Corpus Christi (East & West refineries) with a combined total capacity of around 300,000 barrels per day, and a crude oil terminal in Ingleside.

Flint Hills Resources to Close its Polypropylene Resin Plant in Marysville

Flint Hills Resources will close its polypropylene resin plant in Marysville, Mich., and transfer production to a site in Texas. The closing will take place over the next six months and will eliminate 75 jobs. Affected employees can apply for other open positions with Flint Hills owner Koch Industries. Koch currently has 3,000 open positions.

Potential Buyers Reportedly Check Refineries Of CITGO Petroleum

Potential buyers from at least six leading oil companies have visited refinery in Illinois of CITGO Petroleum Corporation and three firms have shown keen interest in its Texas plant, reported Reuters citing four sources familiar with efforts to sell the assets. It is unclear if CITGO's owner, Petróleos de Venezuela S.A., will go ahead with a sale of its U.S. refining and marketing unit. Both Venezuela's president and finance minister have said in the past month that Citgo's assets would not be sold. But Lazard Ltd, the investment bank hired by CITGO to carry out the sale, is still marketing the refinery, three people told Reuters. The sources familiar with the sale efforts said that visits to the Illinois refinery have been made as recently as this week. Sources told Reuters that teams from the following companies have carried out detailed inspections of the Illinois refinery: Reliance Industries Limited (BSE:500325), PBF Energy Inc. (NYSE:PBF), UTesoro Corporation (NYSE:TSO), Marathon Petroleum Corporation (NYSE:MPC), Valero Energy Corporation (NYSE:VLO) and Phillips 66 (NYSE:PSX). Sources said that Representatives from Phillips 66 visited the Lemont refinery this week. One of the source said, "I don't care what they are saying in Venezuela, potential buyers are still coming in." Gary Heminger, President of Chief Executive Officer of Marathon Petroleum in an interview with Reuters, declined to discuss the CITGO sale, but said the company would carefully weigh refineries on the auction block. Heminger said, "We will always study and do our homework and due diligence on assets that are available." The sources said that the three companies showing the deepest interest in the Corpus Christi refinery are Valero, Flint Hills Resources, LLC and Chevron Corporation (NYSE:CVX). The sources said that Chevron, which was examining reliability records at the Corpus Christi refinery last month, could add a crude distillation unit at Citgo's west plant to run sweet crude from the Eagle Ford oil fields in south Texas while the existing CDU continues to run sour crude oil like that produced by Venezuela. A CITGO spokesman did not respond to Reuters when asked about visits to the refineries made by potential buyers. Marathon, Phillips 66, Tesoro and Valero representatives declined to discuss their companies' possible interest in Citgo's assets. PBF and Reliance did not reply to requests for comment. A Chevron spokesman declined to discuss merger and acquisition activity.

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