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Sunoco completes sale of Toledo refinery

03.01.2011  | 

Sunoco, Inc. announced it has completed the previously announced sale of its refinery in Toledo, Ohio ,to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Company LLC.

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Sunoco, Inc. announced it has completed the previously announced sale of its refinery in Toledo, Ohio ,to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Company LLC for approximately $400 million (consisting of $200 million in cash and a $200 million two-year note). In addition, the purchase agreement includes a participation payment of up to $125 million based on the future profitability of the refinery. Proceeds for related inventory are estimated at $640 million, with $350 million paid in cash at closing and the remaining balance payable in 90 days. After settlement of related crude payables, net proceeds are expected to be approximately $300 million on a pretax basis.

"We are focused on operating our remaining refineries in a safe, reliable and environmentally sound manner," said Lynn L. Elsenhans, Sunoco's chairman and chief executive officer. "As part of our drive to become the premier provider of transportation fuels, we continue to look for opportunities to grow our retail business in and near our Northeast markets. Similarly, we are committed to supporting the growth of our logistics business both inside and outside the historic Sunoco footprint."

Sunoco's existing retail marketing and logistics operations in Ohio and neighboring states are not impacted by the sale. The company continues to supply refined products to its branded distributors through a long term off-take agreement with PBF.



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03.04.2011

we are business man groups for general trading in north of iraq we need to buy refinery to produce asphalt as main product and lube oil or another product as secondary product with capacity not less than 500 ton/day or above it and may be we use crude oil or fuel oil from kirkuk product or as per your current design we can supply any source,but we need to work as vacuumm distilation and bouling asphalt you can give them same idea about your current design and total price of your refinery to give us clear picture to make right choice.
best regards
rezhen abdullah
mechanical engineer
north of iraq
rezhen.mechanic@yahoo.com

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