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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Exclusive: Carlyle Group in talks with Sunoco for Philly refinery: source Post a Reply Back to Topics
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hoffbeck20
Veteran Author Minnesota

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cool
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robaloma
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wow
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cutter1330
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Message Posted: Apr 18, 2012 8:46:37 PM
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A refinery is kinda like dirt.....they aint make any more of'em.
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EmperorsFinest
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ok.
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ExplorerWA
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Message Posted: Apr 18, 2012 8:41:16 PM
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Closing the plant should help to raise or at least keep prices high.
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RAKARWOWSKI
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ok.
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jdc17327
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why
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gass12
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Message Posted: Apr 18, 2012 8:38:38 PM
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Whjy don!t they put it up for sale.
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pgerassi
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ok.
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pbug101
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ok
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dale243
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Message Posted: Apr 18, 2012 8:32:50 PM
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But of course. Everything drives prices up.
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warlord1
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filcut
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xclusive>>>>> refineries running Brent crude are at a 20 cent/gal cost disadvantage compared to the gulf coast refineries running US crude. Its simple.

[Edited by: filcut at 4/18/2012 8:21:28 PM EST]
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gasaholicMO
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Message Posted: Apr 18, 2012 8:19:49 PM
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I agree with smenzel. Something else is going on here.
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toadNY
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Remember obama an his appointed energy czar want prices like Europe! $7.00 to $8.00 a gallon!
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smenzel
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Message Posted: Apr 18, 2012 8:16:53 PM
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Strikes me as odd that, with fuel prices at near all-time highs, an oil refinery can be "threatened with closure due to low profits."
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IMLURCH
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Message Posted: Apr 18, 2012 8:14:50 PM
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Sunoco is not saying they are losing money just that the refinery is not making ENOUGH PROFITS. So they will close the refinery to drive up prices even more. And the Government can't do something to stop this?
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DeHavilland
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Another refinery going to close. Then listen to the excuses for higher prices at the pump.
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jwduke1
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Another big oil game.
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DriverofRed
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ok
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jason98122
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I don't trust the oil companies.
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RAC110
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oil people playing their games
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bababooey2
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Will the games ever end?
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TelsaOR
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Greedy games by oil companies!
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Ticobird
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I hope they come to an agreement for the consumer's sake. Once our economy gets going again the refinery will be profitable because more refined product will be needed.
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firefly09
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Message Posted: Apr 18, 2012 7:54:44 PM
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Just another excuse to drive the gas price up.
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LQQKGAS
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.
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BeulahME
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Message Posted: Apr 18, 2012 7:53:13 PM
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Lets hope the deal gets done.
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GRUMPY55
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ok
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fire@53
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Message Posted: Apr 18, 2012 7:49:34 PM
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Know one wants the Marcus Hook refinery as it was not modernized like the one in Philadelphia.
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The_DR
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How much?
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MDTDriver
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Message Posted: Apr 18, 2012 7:48:36 PM
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Alwasy a reason to push up pump price!
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nj2000ng
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good
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Ken2OD
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Message Posted: Apr 18, 2012 7:45:07 PM
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There might be another refinery for sale way up in North Pole, Alaska which is southeast of Fairbanks. It is now down to 1/3 the capacity it was running 5 years ago.
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vincentV
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S.O.S.
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themaninthehat
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"Follow the money!"
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shea33
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got it
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gravityhurts
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Message Posted: Apr 18, 2012 7:32:24 PM
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Wonderful...now get gas prices under control and stop screwing the consumer.
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SUPERQUACK
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Message Posted: Apr 18, 2012 7:29:20 PM
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OKAY .... WHAT ARE WE TO DO ???
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geoutpb
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Message Posted: Apr 18, 2012 7:28:42 PM
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Time for Carlyle to learn refining oil is not were the money is.
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LegoVasavouchi
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Fascinating.
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tasha88CA
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k
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hcivic
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hhhmmmm, interesting
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ratones1
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OK...
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Dragnet
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Who cares
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mnbeancounter
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Hopefully they come to an agreement
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BigBob12345
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So buy it already
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humancry
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I say we should start building refinery's, and parts for our cars here like it use to be.,
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mconley1967
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Ok
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TBRR
Champion Author Jacksonville

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Message Posted: Apr 18, 2012 7:07:02 PM
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willing to bet that sunoco wants more that the plant is worth. also i bet it needs some significant upgrades to become profitable again.
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MG_Sputnik
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It would be nice if that place stayed business for the local economy around here.
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jerej829
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ok
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