Management attributed fourth quarter refining weakness to a precipitous drop in fuel margins during the second half of the period, which coincided with the liquidation of inventory following maintenance events. The company achieved record annual refining throughput of 652,000 barrels per day, driven by a strategic focus on reliability and the successful completion of major turnarounds at Tulsa, Parco, and Puget Sound. Operational efficiency improved significantly, with refining operating costs decreas ...