Sunoco Inc. has announced its plans Monday to exit the refining business, which includes looking for buyers for its South Philly, 3144 W. Passyunk Ave., and Marcus Hook refineries.
“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,” Lynn L. Elsenhans, Sunoco’s chairman and CEO, said in a statement.
However, if no one buys the refineries, Sunoco will idle the main processing units at both facilities by next July.
“Selling the refineries is our preferred option,” Thomas Golembeski, the company’s spokeman, said. “We’re working really hard to find someone to buy them.”
Contact Managing Editor Amanda L. Snyder at asnyder@southphillyreview.com or ext. 117.
One does not have to be a doctor, EMT or firefighter to help save a life, but can do so by simply donating blood.
The Philadelphia Office of Emergency Management and Sunoco, Inc. are partnering up to provide text alerts to the public when incidents that may impact the community occur at the Sunoco Refinery, 3144 W. Passyunk Ave.
Anne DeStefano was unexpectedly awakened at 2 a.m. last Thursday, but not from a loud bang or somebody snoring. The resident of Broad and Pollock streets can blame her disturbed sleep on her sense of smell. “I was going to throw up,” she said of the unexpected stench that wafted into her home.
Sunoco, union reach agreement United Steelworkers Union Local 10-1, which represents the South Philadelphia Sunoco refinery, ratified a three-year contract by an overwhelming margin March 13. Sunoc...
Chanting, "They say cut back. We say fight back" along with more than 400 others, Matt Tankelwicz protested with his family by his side. The United Steelworkers Union and its members marched to Sunoco's corporate headquarters at 1735 Market St. Feb. 26, fighting to keep the Philadelphia and Marcus Hook refineries running at what they say are safe staffing levels and to save 100 operator positions the company may cut at the 3144 W. Passyunk Ave. site.
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