Open main menu
Home
Random
Recent changes
Special pages
Community portal
Preferences
About Wikipedia
Disclaimers
Incubator escapee wiki
Search
User menu
Talk
Dark mode
Contributions
Create account
Log in
Editing
Sunoco
(section)
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
===2000s=== In 2003, [[Speedway LLC]], then a subsidiary of [[Marathon Petroleum]], sold 193 convenience stores to Sunoco.<ref>{{cite news |url=https://www.bizjournals.com/louisville/stories/2003/02/03/daily45.html |title=Sunoco buying 193 stations from Marathon Ashland unit |work=[[American City Business Journals]] |date=February 7, 2003}}</ref> It also acquired service stations from Coastal Petroleum.<ref>{{cite press release |url=https://www.ftc.gov/news-events/press-releases/2003/12/ftc-closes-investigation-sunocos-proposed-acquisition-coastal |title=FTC Closes Investigation of Sunoco's Proposed Acquisition of Coastal Eagle Point Oil Company |work=[[Federal Trade Commission]] |date=December 29, 2003}}</ref> [[File:Sunoco Fuel Tanker Truck Auto Club 2022.jpg|thumb|right|Sunoco UltraTech race fuel tanker truck at [[Auto Club Speedway]]]] In 2004, Sunoco replaced the [[ConocoPhillips]]' [[76 (Phillips 66)|76]] brand as the ''Official Fuel of [[NASCAR]]''.<ref>{{cite news |url=https://www.bizjournals.com/philadelphia/stories/2004/05/10/focus3.html |title=Sunoco and NASCAR forge winning team |first=Mike |last=Mathis |work=[[American City Business Journals]] |date=May 10, 2004}}</ref> After ConocoPhillips abandoned the marketing of the [[Mobil]] brand name in the [[Washington, D.C.]] area, Sunoco purchased these rights, converted Maryland and Virginia Mobil stations to the Sunoco brand, bringing the A{{En dash}}Plus convenience store with them {{En dash}} prior to this, these stations had convenience stores under the [[Circle K]] or [[On the Run (convenience store)|On the Run]] brands. In September 2009, Sunoco sold its retail [[heating oil]] and [[propane]] distribution business to Superior Plus for $82.5 million in cash.<ref>{{cite press release |url=http://www.marketwired.com/press-release/superior-plus-completes-us86-million-acquisition-of-sunoco-retail-heat-tsx-spb-1269316.htm |title=Superior Plus Completes US$86 Million Acquisition of Sunoco Retail Heat |publisher=[[Marketwired]] |date=September 30, 2009}}</ref><ref>{{cite news |url=https://www.reuters.com/article/superiorplus/update-1-superior-to-buy-sunocos-fuel-distribution-biz-idUSBNG10144020090902 |title=Superior to buy Sunoco's fuel distribution biz |first=Koustav |last=Samanta |publisher=Reuters |date=September 2, 2009}}</ref> In Canada, the Sunoco brand was licensed for the [[Ontario]] retail fuel station operations of [[Suncor Energy]] until 2010. Following Suncor's acquisition of [[Petro-Canada]], all Canadian Sunoco outlets were converted to Petro{{En dash}}Canada branding,<ref>{{cite web |url=http://www.sunoco.ca/ |title=Sunoco.ca}}</ref> except for one location in [[Port Colborne, Ontario]], which closed in 2023. In December 2010, Sunoco sold its refinery in [[Toledo, Ohio]], to [[PBF Energy|PBF Energy, Inc.]] for $400 million. Effective September 6, 2011, Sunoco announced that it would exit the crude oil refining business and seek to sell its [[Philadelphia]] and [[Marcus Hook, Pennsylvania]] refineries by mid-2012. The company stated that its cost for exiting the refining business could be as high as $2.7 billion. According to one report, it had lost some $800 million on refining operations since 2009; an earlier report provided a figure of $772 million. On December 1, 2011, Sunoco announced it would accelerate closure of the Marcus Hook facility.<ref>{{cite news |url=http://www.philly.com/philly/hp/news_update/20111202_Sunoco_abruptly_shuts_Marcus_Hook_refinery.html | title=Sunoco abruptly shuts Marcus Hook refinery | first=Andrew | last=Maykuth | work=[[Philadelphia Media Network]] | date=December 2, 2011}}</ref> The Marcus Hook facility, founded in 1902 and covering 781 acres, was dedicated exclusively to the processing of [[Sweet crude oil|light sweet crude oil]]; this processing focus combined with volatility in crude oil prices are considered contributing factors to both this refinery's closure and Sunoco's exit from the refinery business.<ref>{{cite news | url=https://www.bizjournals.com/philadelphia/blog/peter-key/2012/01/how-the-oil-refining-industry-is-like.html | title=Venture that saved a Philadelphia refinery launched | first=Peter | last=Key | work=[[American City Business Journals]] | date=January 20, 2012}}</ref> In 2012, Sunoco demolished its Eagle Point refinery complex in [[West Deptford Township, New Jersey]], which had been idle since 2010.<ref>{{cite news |url=https://patch.com/new-jersey/westdeptford/sunoco-demolishing-eagle-point-refinery |title=Sunoco Demolishing Eagle Point Refinery |first=Bryan |last=Littel |publisher=[[Patch Media]] |date=February 16, 2012}}</ref> In September 2012, Sunoco formed a [[joint venture]] with [[The Carlyle Group]], allowing for the continuation of operations at the Philadelphia refinery, and temporarily saving over 800 jobs.<ref>{{cite press release | url=https://www.carlyle.com/media-room/news-release-archive/carlyle-group-and-sunoco-agree-form-philadelphia-refinery-joint | title=The Carlyle Group and Sunoco Agree to Form Philadelphia Refinery Joint Venture | publisher=[[The Carlyle Group]] | date=July 1, 2012}}</ref><ref>{{cite news | url=https://www.bizjournals.com/philadelphia/news/2012/09/19/venture-that-saved-a-philadelphia.html | title=Venture that saved a Philadelphia refinery launched | first=Peter | last=Key | work=[[American City Business Journals]] | date=September 19, 2012}}</ref> However, on January 22, 2018, the joint venture, named Philadelphia Energy Solutions, filed for [[bankruptcy]].<ref>{{cite news | url=https://www.bloomberg.com/news/articles/2018-01-22/biggest-u-s-east-coast-oil-refiner-seeks-bankruptcy-protection | title=Biggest U.S. East Coast Oil Refinery Files for Bankruptcy | first1=Barbara J. | last1=Powell | first2=Dan | last2=Murtaugh | work=[[Bloomberg L.P.]] | date=January 22, 2018}}</ref> Sunoco acquired [[NuStar Energy]] in January 2024 for $7.3 billion.<ref>{{Cite web |date=2024-01-22 |title=Sunoco to buy NuStar Energy in $7.3 bln deal as it expands midstream business |url=https://www.reuters.com/markets/deals/sunoco-buy-nustar-energy-all-stock-deal-73-billion-2024-01-22/ |access-date=2025-05-13 |website=Reuters}}</ref> The deal gave Sunoco access to 63 terminal and storage facilities as well as 9,500 miles of pipeline.<ref>{{Cite web |last=Hamilton |first=Tracy Idell |date=2024-01-22 |title=NuStar Energy to be acquired by Sunoco in $7.3B deal |url=https://sanantonioreport.org/nustar-energy-sunoco-acquisition-buyout/ |access-date=2025-05-13 |website=San Antonio Report |language=en-US}}</ref>
Edit summary
(Briefly describe your changes)
By publishing changes, you agree to the
Terms of Use
, and you irrevocably agree to release your contribution under the
CC BY-SA 4.0 License
and the
GFDL
. You agree that a hyperlink or URL is sufficient attribution under the Creative Commons license.
Cancel
Editing help
(opens in new window)