In the US, HF Sinclair Corporation announced Wednesday the formation of Green Trail Fuels, LLC, a new joint venture with UPOP Holdings in which HF Sinclair will hold a 50% non-operating economic interest. The venture will include 30 retail sites across Colorado and New Mexico.
Under the agreement, HF Sinclair will supply fuel from its regional refineries to the retail locations, enhancing the company’s branded marketing presence in the Rockies and Southwest regions.
"The establishment of this new partnership allows us to accelerate growth of the Sinclair brand at an expedited pace and capture synergies across our integrated asset base," said Steve Ledbetter, executive vice president, Commercial, HF Sinclair.
The joint venture is expected to create operational and logistics synergies with HF Sinclair’s existing midstream and refining assets while providing exposure to additional margin streams through the partnership.
UPOP will operate the retail sites while HF Sinclair supplies fuel from its existing refinery locations. HF Sinclair currently supplies high-quality fuels to more than 1,700 branded stations and licenses the Sinclair brand to more than 350 additional locations throughout the country.
Full story HF Sinclair forms joint venture for 30 retail sites across Colorado, New Mexico By Investing.com
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