Delek US Holdings, Inc.

What does Delek US own?
Delek US owns four petroleum refineries in Tyler and Big Spring, Texas; El Dorado, Arkansas; and Krotz Springs, Louisiana, plus logistics assets and a roughly 58% interest in Delek Logistics Partners (NYSE: DKL).

Is Delek US publicly traded?
Yes. Delek US Holdings trades on the New York Stock Exchange under ticker DK. It went public in May 2006.

Is Delek US related to Delek Group of Israel?
It was founded as the US downstream arm of Israel's Delek Group in 2001, but the two are now separate, unaffiliated public companies that happen to share a name.

Did Delek US sell its gas stations?
Yes. In October 2024 it sold 249 convenience stores to FEMSA for about $385 million. The stores are being rebranded to Oxxo, and Delek supplies their fuel under a ten-year agreement.

How many refineries does Delek own?
Four, in Tyler and Big Spring, Texas; El Dorado, Arkansas; and Krotz Springs, Louisiana, with combined throughput capacity of roughly 302,000 barrels per day.

Who is the CEO of Delek US?
Avigal Soreq has been president and CEO since 2022. Ezra Uzi Yemin is executive chairman.

Delek US was formed in 2001 in Brentwood, Tennessee, as the American downstream vehicle of Israel's Delek Group, an energy conglomerate controlled by Yitzhak Tshuva. The original strategy combined convenience-store retail with refining, a pairing common among regional refiners that wanted a guaranteed outlet for fuel production.

The company bought its first refinery, in Tyler, Texas, in 2005 and listed on the New York Stock Exchange in May 2006 under the ticker DK. It added the El Dorado, Arkansas refinery through the purchase of Lion Oil, completed in stages starting in 2007 and consolidated in 2011, which gave the company a second refining hub and associated pipeline and terminal assets.

The defining transaction came on July 1, 2017, when Delek acquired the roughly 53% of Alon USA Energy it did not already own in an all-stock deal valued at about $530.7 million. Alon brought the Big Spring, Texas and Krotz Springs, Louisiana refineries, plus a retail segment of about 300 convenience stores operating mainly under the DK banner with 7-Eleven branding in Texas, New Mexico, and Arkansas. A new holding company formed in 2016 became the consolidated registrant, keeping the Delek US Holdings name. In February 2018, Delek bought the remaining 18.4% of Alon USA Partners LP for $184.7 million, taking full control of Big Spring.

Logistics grew in parallel. Delek Logistics Partners had gone public in 2012 as a dropdown MLP, and Delek steadily added pipeline joint ventures, including a 33% stake in the Red River Pipeline joint venture acquired from Plains Pipeline in 2019 for $124.7 million.

On September 30, 2024, Delek sold its entire retail business, 249 stores and related subsidiaries including Southwest Convenience Stores and Skinny's, to Emprex Proximity LLC, a subsidiary of Mexico's FEMSA, for approximately $385 million in cash. FEMSA has been converting the locations to its Oxxo banner, while a ten-year supply agreement keeps Delek's Alon and DK branded fuel flowing to the sites. The divestiture was treated as a strategic shift and reported as discontinued operations.

From 2023 onward the company ran its Enterprise Optimization Plan, a margin and cost program whose annual run-rate cash flow target was raised to at least $250 million by late 2026. In 2025 and 2026 the EPA granted small refinery exemptions covering the Krotz Springs 2024 obligation and all four refineries for the 2025 compliance year, materially cutting renewable fuel costs. Third-quarter 2026 results, reported November 6, 2026, were the best in company history. Delek also increased its quarterly dividend about 18% to $0.30 per share and said it expected to repay an outstanding $850 million term loan in the fourth quarter of 2026.

Petroleum refining is emissions-intensive, and Delek discloses greenhouse gas metrics, flaring reduction work, and refinery energy projects in its annual sustainability reporting. The company operates a biodiesel facility at Crossett, Arkansas, and markets some renewable fuel blending, but its business remains overwhelmingly fossil-fuel based.

The most material regulatory exposure is the federal Renewable Fuel Standard. Delek has been a persistent, and successful, petitioner for small refinery exemptions, winning relief for 2024 and 2025 compliance obligations in 2026. Critics of the exemption program argue it lets refiners avoid blending obligations Congress intended; Delek and other small refiners counter that compliance costs threaten refinery economics.

Delek's regulatory scrutiny centers on air and water permits at its refineries and on renewable fuel obligations. The company has faced periodic EPA and state enforcement actions typical of the refining sector, including Clean Air Act matters at individual sites.

In 2025, Delek drew takeover speculation when reports linked Israel's Delek Group to a possible acquisition approach toward its former US affiliate. No transaction materialized, and Delek US remains an independent NYSE-listed company. The episode highlighted persistent investor debate about whether the company's refining-plus-MLP structure is worth more separated than combined.