Dallas-based energy company HF Sinclair announced plans to separate its Lubricants and Specialties segment into an independent publicly traded entity, a move expected to be completed within the next 12 to 18 months. The segment includes well-known brands such as Sinclair Opaline motor oil, which has been on the market for nearly a century.
As part of the planned spinoff, HF Sinclair will discontinue its base oil refining operations in Mississauga, Ontario, while maintaining its research and development facilities and other functions in the region. The company has secured commercial agreements with two other base oil producers to supply product necessary to support the separation and complement output from HF Sinclair’s refinery in Tulsa, Oklahoma.
“This announcement marks an important step in HF Sinclair’s portfolio optimization strategy,” said Franklin Myers, CEO and chairperson of HF Sinclair. Myers emphasized that the separation would unlock value by creating two focused businesses, each with greater strategic and capital flexibility.
The Lubricants and Specialties segment, which encompasses Sinclair Lubricants, Petro-Canada Lubricants, Red Giant Oil, and Sonneborn, manufactures a diverse range of products, including metalworking fluids, locomotive motor oils, candle wax, and ingredients found in baby oil. According to the company’s most recent quarterly report, the segment generated $207 million in adjusted earnings before interest, taxes, depreciation, and amortization in the second quarter of 2026.
Myers noted that the lubricants industry presents more stability compared to refining, which forms the core of HF Sinclair’s broader business. By splitting the operations into two distinct, publicly traded companies, management aims to provide each with greater agility to pursue investment opportunities more closely aligned with their respective markets and investor bases.
HF Sinclair, which trades on the New York Stock Exchange under the ticker symbol “DINO,” will retain ownership of the Sinclair brand. The newly independent Lubricants & Specialties company intends to continue using the Sinclair Lubricants brand name, building on its longstanding market recognition.
The Sinclair lubricants business dates back to the 1920s and includes the iconic Opaline motor oil, noted for its collectible vintage packaging. The company’s signature green dinosaur logo, an apatosaurus, originated from a 1930s marketing campaign that promoted the idea that Sinclair lubricants were derived from oil deposits dating back 100 million years to the age of dinosaurs. The logo, trademarked in 1932, has been featured in cultural events such as the Macy’s Thanksgiving Day Parade and the World Fair, as well as in popular films.
HF Sinclair itself has undergone multiple ownership changes and restructuring over its more than 110-year history. The current iteration of the company was formed in 2022 after HollyFrontier acquired Sinclair Oil and the combined entity was rebranded as HF Sinclair.