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Exclusive: Carlyle Group in talks with Sunoco for Philly refinery: source

Reuters -- Private equity firm Carlyle Group LP is in talks with Sunoco Inc (SUN.N) to buy its 335,000 barrel per day refinery in Philadelphia, a person with direct knowledge of the matter said on Tuesday.

Oil markets are closely watching to see if Sunoco finds a buyer for the plant, one of three refineries on the U.S. East Coast that has been threatened with closure due to weak profits.

The loss of the Philadelphia plant - the largest of the three - could cause a shortfall in refined products in the region and drive up gasoline prices during the summer driving season unless a buyer is found by the July 1 deadline set by Sunoco.

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Submitted Apr 18, 2012 By: Mudsprings

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bvrbill Champion Author Eugene Posts:3,238 Points:520,800 Joined:Jul 2011	Message Posted: Apr 18, 2012 10:33:44 PM Ignore bvrbill Report Abuse Let's hope they can keep the refinery operating. Big oil doesn't need another reason to increase prices.
babugp Veteran Author Philadelphia Posts:339 Points:76,685 Joined:Mar 2012	Message Posted: Apr 18, 2012 10:30:03 PM Ignore babugp Report Abuse hummmm
crazycow2332 Champion Author Nashville Posts:1,217 Points:255,080 Joined:May 2010	Message Posted: Apr 18, 2012 10:26:40 PM Ignore crazycow2332 Report Abuse ok
paulydel Champion Author Delaware Posts:8,799 Points:848,800 Joined:Jan 2008	Message Posted: Apr 18, 2012 10:18:43 PM Ignore paulydel Report Abuse I don't like to see Sunoco close because they are one of the better gases out there. But rather than see it close down I'm glad that there is interest in buying and keeping it going.
rjoeh Champion Author Michigan Posts:7,091 Points:2,472,165 Joined:Jun 2004	Message Posted: Apr 18, 2012 10:18:35 PM Ignore rjoeh Report Abuse You can bet that if these refineries close... we will see gas prices spike and the energy secretary will come closer to his goal of $(.00/ gallon gasoline.
ericbcire Champion Author Nevada Posts:4,535 Points:1,269,660 Joined:Aug 2009	Message Posted: Apr 18, 2012 10:18:09 PM Ignore ericbcire Report Abuse Oil prices need to fall or more refineries will close.
s6sputnik Champion Author Austin Posts:6,222 Points:1,310,380 Joined:Jun 2007	Message Posted: Apr 18, 2012 10:11:39 PM Ignore s6sputnik Report Abuse Nice!
dave1745 Champion Author Gary Posts:1,262 Points:740,625 Joined:Dec 2010	Message Posted: Apr 18, 2012 10:11:29 PM Ignore dave1745 Report Abuse keep it open
gmcgas Champion Author Atlanta Posts:5,963 Points:1,716,120 Joined:Mar 2004	Message Posted: Apr 18, 2012 10:08:34 PM Ignore gmcgas Report Abuse because of regulations can't just build a new plant that costs less to operate.
MattieDale Sophomore Author Cincinnati Posts:236 Points:207,275 Joined:Mar 2003	Message Posted: Apr 18, 2012 10:08:31 PM Ignore MattieDale Report Abuse I would like to know how weak the profits really are.
panda317 Champion Author Massachusetts Posts:2,264 Points:688,600 Joined:Aug 2002	Message Posted: Apr 18, 2012 10:06:22 PM Ignore panda317 Report Abuse ok
movietracker All-Star Author Pennsylvania Posts:695 Points:162,390 Joined:Mar 2011	Message Posted: Apr 18, 2012 10:05:41 PM Ignore movietracker Report Abuse Ok
weenerdog Champion Author Detroit Posts:9,471 Points:1,886,840 Joined:Jan 2008	Message Posted: Apr 18, 2012 10:04:14 PM Ignore weenerdog Report Abuse interesting
s6sputnik Champion Author Austin Posts:6,222 Points:1,310,380 Joined:Jun 2007	Message Posted: Apr 18, 2012 10:03:22 PM Ignore s6sputnik Report Abuse Interesting!
BluWahoo Champion Author Pensacola Posts:3,125 Points:381,640 Joined:Mar 2012	Message Posted: Apr 18, 2012 10:01:28 PM Ignore BluWahoo Report Abuse Delta Airlines...I hope you are the winning bidder. Produce your own jet fuel and lower airline tickets. Allow Amtrak in on it too, so their diesel can be produced and lower rail service. Lower prices for travel then more people would take vacations.
hagar2935 Veteran Author Nevada Posts:315 Points:85,155 Joined:Dec 2011	Message Posted: Apr 18, 2012 10:00:48 PM Ignore hagar2935 Report Abuse Hopefully this refinery will be salvaged....... or gas prices will skyrocket again!!!!
EVBuddy Champion Author Nevada Posts:16,700 Points:3,033,545 Joined:Sep 2004	Message Posted: Apr 18, 2012 10:00:39 PM Ignore EVBuddy Report Abuse Some one will Pay
30mpg80 Champion Author Lexington Posts:10,061 Points:1,489,805 Joined:Nov 2008	Message Posted: Apr 18, 2012 10:00:00 PM Ignore 30mpg80 Report Abuse It has been said that East Coast refineries had to use more expensive Brent crude, making much higher cost. Fill up a tanker at western end of Great Lakes with cheaper midwest crude and deliver to refinery.
vrossi46 Champion Author San Jose Posts:2,682 Points:806,870 Joined:Oct 2008	Message Posted: Apr 18, 2012 9:58:40 PM Ignore vrossi46 Report Abuse how in the world could profits be weak?
WillyG Champion Author Cincinnati Posts:3,563 Points:908,040 Joined:Aug 2005	Message Posted: Apr 18, 2012 9:57:34 PM Ignore WillyG Report Abuse Weak profits ? Really ?
2go2 Sophomore Author Michigan Posts:177 Points:1,084,065 Joined:Jul 2006	Message Posted: Apr 18, 2012 9:57:14 PM Ignore 2go2 Report Abuse usa refineries..... under the obama regime.
livedream Champion Author Michigan Posts:3,695 Points:757,010 Joined:Mar 2011	Message Posted: Apr 18, 2012 9:52:56 PM Ignore livedream Report Abuse Nice Big Oil PR piece. And the gas gouging continues.....
walkingtall Champion Author Toronto Posts:4,009 Points:1,123,630 Joined:Nov 2004	Message Posted: Apr 18, 2012 9:51:29 PM Ignore walkingtall Report Abuse I just don't understand how they are not making money.
HDFXR1991 Veteran Author Wisconsin Posts:469 Points:141,030 Joined:Sep 2008	Message Posted: Apr 18, 2012 9:44:48 PM Ignore HDFXR1991 Report Abuse WOW ..... and the stupidity just keeps going.
heysailor Champion Author Pittsburgh Posts:9,597 Points:2,335,595 Joined:Mar 2006	Message Posted: Apr 18, 2012 9:40:19 PM Ignore heysailor Report Abuse Keep the refinery open; keep the USW there. This is in the national interest
gobux10 Champion Author Ohio Posts:3,185 Points:682,755 Joined:Mar 2010	Message Posted: Apr 18, 2012 9:36:06 PM Ignore gobux10 Report Abuse keep in open
USAv8tor Veteran Author Long Island Posts:348 Points:138,665 Joined:Mar 2012	Message Posted: Apr 18, 2012 9:33:15 PM Ignore USAv8tor Report Abuse I'll buy it for a dollar. Are they willing to sell it on consignment or take an I.O.U.? Seriously though, I hope an American corporation or company buys it. Or, we can sell it to a foreign company and have the American workers at the plant run it into the ground and then buy it back for cheaper.
iceman11 Champion Author Ontario Posts:2,715 Points:536,425 Joined:Feb 2011	Message Posted: Apr 18, 2012 9:29:24 PM Ignore iceman11 Report Abuse i just don't get it...... how are they not making any money
nimpy Champion Author Indianapolis Posts:8,150 Points:1,704,030 Joined:Oct 2007	Message Posted: Apr 18, 2012 9:28:22 PM Ignore nimpy Report Abuse won't help the prices
skyking19 Champion Author Little Rock Posts:2,006 Points:1,701,540 Joined:Jan 2007	Message Posted: Apr 18, 2012 9:28:11 PM Ignore skyking19 Report Abuse Let's hope they can keep them open.
srchr Champion Author San Jose Posts:7,264 Points:1,622,000 Joined:Apr 2008	Message Posted: Apr 18, 2012 9:20:43 PM Ignore srchr Report Abuse that won't happen with all the gov't regs on refineries
DCbeachbum Champion Author South Carolina Posts:2,647 Points:906,315 Joined:May 2010	Message Posted: Apr 18, 2012 9:20:32 PM Ignore DCbeachbum Report Abuse We need the refinery's to stay on line. Hope who ever buys it will keep it running.
aarrrt Champion Author San Diego Posts:7,284 Points:1,654,455 Joined:May 2008	Message Posted: Apr 18, 2012 9:14:00 PM Ignore aarrrt Report Abuse Hard to believe profits are so bad when gas and oil prices are, and have been high for some time. Wait until people run out of money, profits will really be bad.
darkknight1 Champion Author Winston-Salem Posts:4,350 Points:898,010 Joined:Nov 2010	Message Posted: Apr 18, 2012 9:08:23 PM Ignore darkknight1 Report Abuse ok
captngasTN Champion Author Tennessee Posts:3,015 Points:1,328,725 Joined:Jun 2009	Message Posted: Apr 18, 2012 9:08:06 PM Ignore captngasTN Report Abuse just don't get weak profit on elevated prices
kusanagisama All-Star Author Texas Posts:708 Points:191,525 Joined:Feb 2011	Message Posted: Apr 18, 2012 9:06:42 PM Ignore kusanagisama Report Abuse Ok.
TDIdave Champion Author California Posts:5,068 Points:1,226,690 Joined:May 2006	Message Posted: Apr 18, 2012 9:06:31 PM Ignore TDIdave Report Abuse ok.
SUSANCK Champion Author Chicago Posts:3,652 Points:710,405 Joined:Apr 2011	Message Posted: Apr 18, 2012 9:03:24 PM Ignore SUSANCK Report Abuse ok.
Jeff1944 Champion Author South Dakota Posts:4,244 Points:1,076,570 Joined:Jan 2010	Message Posted: Apr 18, 2012 9:02:57 PM Ignore Jeff1944 Report Abuse Would be nice if they take over the refinery.
PoohMcGoo Champion Author Alabama Posts:3,077 Points:802,635 Joined:Dec 2010	Message Posted: Apr 18, 2012 9:01:54 PM Ignore PoohMcGoo Report Abuse Weak profits must be due to poor management or unions. Or both.
iamforiu Champion Author Indiana Posts:3,585 Points:713,690 Joined:May 2011	Message Posted: Apr 18, 2012 9:01:27 PM Ignore iamforiu Report Abuse ok
methaneman Champion Author Minnesota Posts:2,610 Points:1,285,325 Joined:May 2002	Message Posted: Apr 18, 2012 9:01:06 PM Ignore methaneman Report Abuse Planned manipulation!
itsjustme719 All-Star Author Hamilton Posts:612 Points:600,220 Joined:Dec 2010	Message Posted: Apr 18, 2012 9:00:11 PM Ignore itsjustme719 Report Abuse Surprise! Another reason for prices to go up!
danreino Champion Author Twin Cities Posts:8,363 Points:1,542,680 Joined:Mar 2008	Message Posted: Apr 18, 2012 8:58:05 PM Ignore danreino Report Abuse I hope Belinda makes the right move.
swrestler Champion Author Grand Rapids Posts:6,150 Points:1,574,100 Joined:Oct 2008	Message Posted: Apr 18, 2012 8:57:45 PM Ignore swrestler Report Abuse Just Another Excuse To Raise The Price Of Gas...
Kaiyne Champion Author Chicago Posts:2,349 Points:474,665 Joined:Feb 2011	Message Posted: Apr 18, 2012 8:57:05 PM Ignore Kaiyne Report Abuse Go Sunoco.
IUVidiot Champion Author Indiana Posts:3,600 Points:711,385 Joined:Jun 2011	Message Posted: Apr 18, 2012 8:56:39 PM Ignore IUVidiot Report Abuse here we go again
JENNYHK Champion Author Chicago Posts:3,651 Points:715,495 Joined:Apr 2011	Message Posted: Apr 18, 2012 8:53:05 PM Ignore JENNYHK Report Abuse Good for someone.
boatmen Champion Author New York Posts:3,095 Points:625,505 Joined:Jan 2011	Message Posted: Apr 18, 2012 8:52:09 PM Ignore boatmen Report Abuse greed say they close to make more profits
Beaveronparade Champion Author Hartford Posts:2,108 Points:637,535 Joined:Mar 2011	Message Posted: Apr 18, 2012 8:52:07 PM Ignore Beaveronparade Report Abuse Prices going up again at the pump?
hoffbeck20 Veteran Author Minnesota Posts:283 Points:63,095 Joined:Dec 2011	Message Posted: Apr 18, 2012 8:49:50 PM Ignore hoffbeck20 Report Abuse cool
robaloma Champion Author Houston Posts:2,611 Points:693,575 Joined:Feb 2011	Message Posted: Apr 18, 2012 8:47:25 PM Ignore robaloma Report Abuse wow