HF Sinclair saw profit from its base oils and lube units rise in the first three months of the year from the previous quarter as sales edged up while costs fell.
The firmer profit contrasted with other major refiners’ lower first-quarter profit from the previous quarter.
Operating profit of $78.74mn in the first three months of the year rose from $44.29mn during the fourth quarter.
Profit was down 36pc from year-earlier levels, when costs were lower and sales volume higher.
Profit rose from the fourth quarter amid a 1pc rise in sales that contrasted with a 3pc fall in costs.
The units’ sales volume of 31,790 b/d (402,970t) in the first quarter rose from a more-than two-year low of 28,570 b/d during the previous three months.
