Sunoco’s existing retail marketing and logistics operations in Ohio and neighboring states are not impacted by the sale. Sunoco Inc. has completed the previously announced sale of its refinery in Toledo, Ohio to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Co. LLC for approximately $400 million (consisting of $200 million in…
Sunoco and Sheetz Introduce Xenergy
Starting in March, energy drink Xenergy is set to appear in 818 corporate and 642 independently-owned Sunoco stores and 320 Sheetz locations. C-store chains Sheetz Inc. and Sunoco Inc. both have opted to add XYIENCE’s Xenergy, the official energy drink of the UFC, to their stores, expanding the brand’s presence on the East Coast. Between…
Sunoco Reports Fourth Quarter 2010 Results
Sunoco “finished the year with $1.5 billion in cash, achieved growth in our retail and logistics businesses and improved the competitiveness of our refineries,” says CEO. Sunoco Inc. has reported its fourth quarter results for 2010, including net income attributable to Sunoco shareholders of $87 million ($0.72 per share diluted) compared to the net income…
Sunoco To Continue With Separation of SunCoke
Settlement with ArcelorMittal resolves lawsuit on Coke pricing litigation. Sunoco Inc. is moving forward with the planned separation of SunCoke Energy after reaching an agreement with ArcelorMittal that resolves the lawsuit concerning coke pricing for the Jewell facility. Additional information regarding the planned separation of SunCoke Energy from Sunoco will be discussed on the previously…
SunCoke Energy Buys Virginia Coal Companies
SunCoke Energy, a subsidiary of Sunoco Inc. has purchased the Honaker, Va.-based Harold Keene Coal Co. Inc., its affiliated entities and their related assets for approximately $40 million in cash, including working capital. Coal reserve estimates for the assets of the entities being purchased total at least 16 million tons, with final estimates to be…
Sunoco Expands in New Jersey
Sunoco Inc. has reached an agreement with the New Jersey Turnpike Authority and Getty Petroleum Marketing Inc. to begin operating the nine fuel stations at service plazas along the Garden State Parkway, one of the most heavily traveled roads in the nation. The new six-year agreement begins January 2011 and runs through December 2016. Sunoco…
Sunoco Acquires 25 Locations in New York
Sunoco Inc. has reached a definitive agreement to acquire 25 retail locations from Lehigh Gas Corp., a Bethlehem, Penn.-based distributor of petroleum products. While the terms of the purchase were not disclosed, the retail assets are located in the Buffalo, Syracuse, Albany, and Rochester markets of central and northern New York. “The acquisition of these…
Winner Announced in Sunoco’s “Free Fuel 5000”
Mary Young has won Sunoco’s 2010 “Free Fuel 5000” promotion, which means she’ll be supplied with 5,000 gallons of high-quality Sunoco gasoline-enough fuel to keep her driving for eight years. As the official fuel of NASCAR, Sunoco’s “Free Fuel 5000” promotion offered millions of Sunoco customers a decal identical to the ones on every racecar…
Sunoco to Sell Toledo Refinery
Sunoco Inc. has reached a definitive agreement to sell its 170,000 barrel-per-day refinery in Toledo, Ohio to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Company LLC. Sunoco plans to sell the refinery for approximately $400 million (consisting of $200 million in cash and a $200 million two-year note). In addition, the…
Sunoco To Supply NASCAR With E-15 Fuel
Sunoco Inc. is supplying the National Association for Stock Car Auto Racing (NASCAR) with a new high-performance fuel for the 2011 season. The new fuel-known as Sunoco Green E15—is a 15% ethanol blend that will be used in NASCAR’s three national touring series. “Since 2004, Sunoco has produced and delivered to NASCAR the world’s best…