Skip to content

Sunoco Being Sold; Delta Buying East Coast Oil Refinery


5/1/2012 1:00:00 PM
Write a Letter to the Editor



Print This
 

Two big deals affecting the refinery of crude oil in the Northeast were announced this week: Delta Air Lines will buy a Philadelphia area refinery and Sunoco Inc. is being sold for $5.3 billion.

Energy Transfer Partners LP said Monday it plans to buy oil giant Sunoco, which has a Philadelphia-area refinerythat had been slated for closure, which led to concerns earlier this year about ultra-low-sulfur diesel supplies.

Sunoco, based in Philadelphia, had been closing or selling its refineries to focus on pipelines and storage, Bloomberg reported. The company also has almost 5,000 Sunoco-branded filling stations.

Meanwhile, Delta’s plan to buy a refinery for $180 million, also in the Philadelphia area, will bring some of its jet-fuel production in house, in an attempt to save the No. 2 global airline money, Bloomberg reported.

It is buying a Trainer, Pa., refinery that Phillips 66 had targeted for shutdown that can refine 185,000 barrels per day of crude oil. Delta said it will spend $100 million to convert the refinery to maximize production of jet fuel, while lowering gasoline output.

The plant will boost its jet-fuel output to 32%, from its current 14%, while lowering gasoline output to 43%, from 52%, the New York Times reported Tuesday. No percentage was given for diesel, which, like jet fuel, is a distillate byproduct of the refining process.

Follow Transport Topics on RSS Twitter Facebook


 Print This
 


© 2012, Transport Topics Publishing Group. All rights reserved.

 

 

RELATED ARTICLES

Oil Trades Near Four-Week High $105 a Barrel (4/30/2012 8:30:00 AM)
Senate, House Set Conference Panel to Resolve Differences in Highway Bill (4/30/2012 2:30:00 AM)
Diesel Falls 4.2¢ to $4.085, Slips Below Year-Ago Level (4/30/2012 1:30:00 AM)
Diesel Falls Again, Declining 4.2¢, to $4.085; Gasoline Falls 5.2¢ to $3.87 a Gallon (4/24/2012 10:00:00 AM)
Diesel Price Falls by 2.1¢ to $4.127, While Gasoline Drops 1.7¢ to $3.922 (4/23/2012 1:10:00 AM)
Diesel Drops 2.1¢ to $4.127; Gasoline Declines Again (4/16/2012 4:50:00 PM)
 

JOIN OUR NEWSLETTER
We'll deliver tax strategies to your inbox from our CPA firm.
We hate spam. Your email address will not be sold or shared with anyone else.