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On the heels of its purchase of Southern Union Group, Dallas-based Energy Transfer Partners announced April 30 plans to acquire Sunoco for $5.3 billion.
Utility Service Affiliates Inc, a subsidiary of Middlesex Water Company (NASDAQ: MSEX), has signed a contract with Sunoco Logistics Partners LP.
The bank has been providing branded payment products to Sunoco since 2004.
In the short-term Elsenhans said the best option for Sunoco was to continue operating its Philadelphia and Marcus Hook, Pennsylvania, refineries.
Sunoco said on Wednesday it hopes to complete the unit's IPO by the end of the year raising maximum USD100m (EUR71m).
The acquisition is consistent with Sunoco's strategy of utilizing its scale to grow the core fuel distribution business.
Sunoco said the acquisition is consistent with its strategy of utilizing its scale to grow the core fuel distribution business.
"We have made progress in increasing the efficiency of our refineries over the last several years, but given the unacceptable financial performance of these assets, it is clear that it is in the best interests of shareholders to exit this business and focus on our profitable retail and logistics businesses which have higher returns, growth potential, and provide steady, ratable cash flow," said Lynn Elsenhans, Sunoco chairman and CEO.
Sunoco also plans to restart a 35,000 bpd vacuum distillation portion of a 175,000 bpd crude distillation unit.
6 December 2010 - S&P on Friday maintained on "negative" watch the BBB- corporate credit and other ratings on US oil refiner and chemical maker Sunoco Inc (NYSE:SUN).
Sunoco today also announced it has entered into an amended and restated revolving credit agreement (the "Credit Facility") with a syndicate of lenders led by Bank of America Merrill Lynch.
CNBC reported Sunoco has agreed to supply up to 2.7bn gallons of fuel per year to the acquired retail sites for at least 15 years.
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- Sunnybrook Health Sciences Centre
- Sunnybrook Regional Cancer Centre
- Sunnybrook Research Institute
- Sunnybrook Service Center
- Sunnyside Community Services
- Sunnyside Economic Development Association
- Sunnyside Environmental School
- Sunnyside High School
- Sunnyside School District
- Sunnyside Unified School District
- Sunnyside up
- Sunnyside up
- Sunnyside Valley Irrigation District
- Sunnyvale Amateur Radio Emergency Service
- Sunnyvale Center for Innovation, Invention and Ideas
- Sunnyvale Community Players
- Sunnyvale Elementary School District
- Sunnyvale Golfland
- Sunnyvale High School
- Sunnyvale Leadership Development Institute
- Sunnyvale Materials Recovery and Transfer Station
- Sunnyvale Men's Golf Club
- Sunnyvale Neighbors of Arbor Including LaLinda
- Sunnyvale Public Library
- Sunnyvale Rod & Gun Club
- Sunnyvale School District Education Foundation
- Sunnyvale Southern Little League
- Sunoco Logistics Partners
- Sunoco Ron Fellows Karting Championship
- Sunol Valley Fluoridation Facility
- Sunol Valley Water Treatment Plant
- SunOne Application Server
- SunOS Unix
- Sunray and Cotton
- sunray lamp
- Sunray Lighting Inc
- sunray pleat
- sunray pleats