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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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MG_Sputnik Champion Author Philadelphia Posts:7,434 Points:1,987,595 Joined:Apr 2006	Message Posted: Apr 18, 2012 7:06:25 PM Ignore MG_Sputnik Report Abuse It would be nice if that place stayed business for the local economy around here.
jerej829 Champion Author Memphis Posts:2,969 Points:720,350 Joined:May 2011	Message Posted: Apr 18, 2012 7:05:50 PM Ignore jerej829 Report Abuse ok
OOXXFF Champion Author Greensboro Posts:3,193 Points:1,105,905 Joined:Sep 2009	Message Posted: Apr 18, 2012 7:03:50 PM Ignore OOXXFF Report Abuse Good.
miiike572 All-Star Author Phoenix Posts:798 Points:545,440 Joined:Apr 2009	Message Posted: Apr 18, 2012 7:02:22 PM Ignore miiike572 Report Abuse ok
Grandkid1 Champion Author Cincinnati Posts:1,383 Points:243,505 Joined:Mar 2012	Message Posted: Apr 18, 2012 7:01:53 PM Ignore Grandkid1 Report Abuse Interesting
fenster66 Champion Author Pittsburgh Posts:3,485 Points:700,815 Joined:May 2011	Message Posted: Apr 18, 2012 7:01:18 PM Ignore fenster66 Report Abuse if you expect this news to cause a price-drop, don't hold your breath....
76chevy Champion Author Toledo Posts:4,023 Points:778,620 Joined:Jun 2010	Message Posted: Apr 18, 2012 6:56:20 PM Ignore 76chevy Report Abuse Someone watches O'Reilly! You need to pick up more than just buzz words from him. That seems to be all America is about anymore.
carpenter4u Champion Author Virginia Posts:2,476 Points:638,020 Joined:Jul 2011	Message Posted: Apr 18, 2012 6:55:10 PM Ignore carpenter4u Report Abuse to many gov. regualation for them to make money
humblepie Champion Author Toledo Posts:35,329 Points:2,399,070 Joined:Mar 2006	Message Posted: Apr 18, 2012 6:52:17 PM Ignore humblepie Report Abuse no money in refining, this deal will fall through.
rjhenn Champion Author Des Moines Posts:22,605 Points:2,256,400 Joined:Aug 2005	Message Posted: Apr 18, 2012 6:51:38 PM Ignore rjhenn Report Abuse 76chevy - "WE have to stop the obamanation of America!" The last gasp of a man drowning in kool-aid?
milespergallon Champion Author Illinois Posts:9,885 Points:1,936,060 Joined:Feb 2007	Message Posted: Apr 18, 2012 6:51:28 PM Ignore milespergallon Report Abuse With EVERYONE driving less the only reason why the prices wold go up is becasue the rape, pillage and gouge will be involved
76chevy Champion Author Toledo Posts:4,023 Points:778,620 Joined:Jun 2010	Message Posted: Apr 18, 2012 6:50:32 PM Ignore 76chevy Report Abuse WE have to stop the obamanation of America!
Zeke33 Champion Author New Hampshire Posts:5,660 Points:1,635,215 Joined:Sep 2005	Message Posted: Apr 18, 2012 6:50:12 PM Ignore Zeke33 Report Abuse Keep the plant running!
Crumbfel Champion Author Virginia Posts:11,554 Points:2,160,585 Joined:Aug 2006	Message Posted: Apr 18, 2012 6:50:01 PM Ignore Crumbfel Report Abuse READ
Romey08 Champion Author Virginia Posts:6,417 Points:1,457,405 Joined:Apr 2008	Message Posted: Apr 18, 2012 6:49:37 PM Ignore Romey08 Report Abuse movers and shakers trying to make it.
balljars Champion Author Michigan Posts:8,113 Points:1,610,595 Joined:Aug 2008	Message Posted: Apr 18, 2012 6:45:21 PM Ignore balljars Report Abuse Hope that they can make money with this plant. And I think that they can.
joeborge Champion Author Ventura Posts:2,611 Points:920,580 Joined:Jul 2004	Message Posted: Apr 18, 2012 6:43:34 PM Ignore joeborge Report Abuse ok
Topshopper2011 Champion Author New Jersey Posts:1,067 Points:290,625 Joined:Aug 2011	Message Posted: Apr 18, 2012 6:42:21 PM Ignore Topshopper2011 Report Abuse Read plenty! Greedy games by oil companies!
bigrigAZ Champion Author Phoenix Posts:1,818 Points:1,069,860 Joined:Jul 2008	Message Posted: Apr 18, 2012 6:42:04 PM Ignore bigrigAZ Report Abuse Good way to get gas prices up and keep them there. Just by closing refineries. Open, close, and sell them.
Goofoff Champion Author Virginia Posts:11,882 Points:2,177,200 Joined:Aug 2006	Message Posted: Apr 18, 2012 6:41:44 PM Ignore Goofoff Report Abuse READ
Topshopper2011 Champion Author New Jersey Posts:1,067 Points:290,625 Joined:Aug 2011	Message Posted: Apr 18, 2012 6:41:33 PM Ignore Topshopper2011 Report Abuse What baloney! More games!
sit Champion Author Cleveland Posts:5,330 Points:1,958,945 Joined:Feb 2006	Message Posted: Apr 18, 2012 6:40:55 PM Ignore sit Report Abuse ok
Bud122CA Champion Author California Posts:7,601 Points:1,632,575 Joined:Jul 2008	Message Posted: Apr 18, 2012 6:40:23 PM Ignore Bud122CA Report Abuse Just a game to oil companies and refineries. They are playing with words so they can jack up prices.
camaro_man Champion Author Kitchener-Waterloo Posts:2,368 Points:638,640 Joined:Jun 2010	Message Posted: Apr 18, 2012 6:31:28 PM Ignore camaro_man Report Abuse wow
adr47 Champion Author Saskatchewan Posts:5,667 Points:1,178,750 Joined:Nov 2008	Message Posted: Apr 18, 2012 6:27:54 PM Ignore adr47 Report Abuse So
MINIWINI598 Champion Author Washington Posts:3,170 Points:546,400 Joined:Dec 2011	Message Posted: Apr 18, 2012 6:26:49 PM Ignore MINIWINI598 Report Abuse OK
preacherboyFL Veteran Author Orlando Posts:444 Points:125,860 Joined:Feb 2012	Message Posted: Apr 18, 2012 6:26:36 PM Ignore preacherboyFL Report Abuse :/
Beauff Champion Author Cleveland Posts:1,216 Points:623,210 Joined:Sep 2008	Message Posted: Apr 18, 2012 6:26:06 PM Ignore Beauff Report Abuse ok
Winston76 All-Star Author Michigan Posts:968 Points:256,860 Joined:Jul 2008	Message Posted: Apr 18, 2012 6:23:52 PM Ignore Winston76 Report Abuse A few years ago there was all this talk that there wasn't enough refining capacity in the US, now the oil companies are talking about closing refineries. They better not come back in a few years whining about not having enough refining capacity if they follow through with closing refineries. Also we better not have to import a drop of gasoline from overseas either, we should have enough refining capacity to produce our own. [Edited by: Winston76 at 4/18/2012 6:24:45 PM EST]
platinum16434 Veteran Author Houston Posts:289 Points:121,545 Joined:Sep 2008	Message Posted: Apr 18, 2012 6:21:53 PM Ignore platinum16434 Report Abuse Obummer plan?
Cuzilla Champion Author Indianapolis Posts:12,270 Points:2,365,285 Joined:Sep 2005	Message Posted: Apr 18, 2012 6:20:35 PM Ignore Cuzilla Report Abuse Not to worry! President Obama will refine the oil into gasoline and make it available for you!
preacherjohn Champion Author Modesto Posts:4,096 Points:1,943,310 Joined:May 2006	Message Posted: Apr 18, 2012 6:20:15 PM Ignore preacherjohn Report Abuse H e l p!
JXD Champion Author Kitchener-Waterloo Posts:1,284 Points:1,060,735 Joined:Jun 2007	Message Posted: Apr 18, 2012 6:14:02 PM Ignore JXD Report Abuse More greed!
04coupe All-Star Author Ontario Posts:559 Points:512,365 Joined:Aug 2011	Message Posted: Apr 18, 2012 6:13:54 PM Ignore 04coupe Report Abuse Lol
gavinON All-Star Author Toronto Posts:562 Points:112,935 Joined:Mar 2012	Message Posted: Apr 18, 2012 6:08:52 PM Ignore gavinON Report Abuse cooolllllllllll
no8c Champion Author Ohio Posts:2,934 Points:732,100 Joined:Jul 2008	Message Posted: Apr 18, 2012 6:08:34 PM Ignore no8c Report Abuse Thanks for posting this article!
vwgtidude Rookie Author San Jose Posts:38 Points:78,340 Joined:Mar 2012	Message Posted: Apr 18, 2012 6:07:29 PM Ignore vwgtidude Report Abuse I wonder..
Teddy95 Champion Author Dayton Posts:41,285 Points:2,723,825 Joined:Oct 2005	Message Posted: Apr 18, 2012 6:06:21 PM Ignore Teddy95 Report Abuse Hummm....
Krykson All-Star Author Chicago Posts:840 Points:247,385 Joined:Jul 2006	Message Posted: Apr 18, 2012 6:03:56 PM Ignore Krykson Report Abuse Interesting
DrCashFlow Champion Author Massachusetts Posts:7,204 Points:1,654,785 Joined:Jun 2008	Message Posted: Apr 18, 2012 6:01:59 PM Ignore DrCashFlow Report Abuse Smart guys probably going in over their heads
jetlagAK Champion Author Anchorage Posts:2,256 Points:643,825 Joined:Jan 2010	Message Posted: Apr 18, 2012 6:00:46 PM Ignore jetlagAK Report Abuse Let the crabon tax credit zealots walk and PAY for the rest of the world destroying the planet. Anyone else 2012!
gils Champion Author Ohio Posts:1,711 Points:646,975 Joined:Feb 2011	Message Posted: Apr 18, 2012 6:00:01 PM Ignore gils Report Abuse ok
TXHUNTER1 Champion Author Austin Posts:2,712 Points:301,255 Joined:Dec 2006	Message Posted: Apr 18, 2012 5:59:12 PM Ignore TXHUNTER1 Report Abuse Time will tell.
Sam195 Champion Author San Bernardino Posts:8,230 Points:1,602,775 Joined:Oct 2008	Message Posted: Apr 18, 2012 5:58:02 PM Ignore Sam195 Report Abuse Maybe Delta Air should buy this one too.
ConejoHop Sophomore Author California Posts:139 Points:233,705 Joined:Feb 2011	Message Posted: Apr 18, 2012 5:54:54 PM Ignore ConejoHop Report Abuse Wow, thanks for your post Eugenian: "The Carlyle Group's co-owners include George H.W. Bush, James Baker III and Shafiq bin Laden, among others." The disturbing story of the Bush family's oil biz dealings continues...
justme48 Champion Author New Jersey Posts:2,660 Points:538,670 Joined:Jun 2011	Message Posted: Apr 18, 2012 5:54:08 PM Ignore justme48 Report Abuse What weak profits??
slowtrain Champion Author Georgia Posts:3,797 Points:975,400 Joined:Aug 2008	Message Posted: Apr 18, 2012 5:49:06 PM Ignore slowtrain Report Abuse Good.
hauler43 Champion Author Oakland Posts:8,158 Points:2,597,750 Joined:Sep 2003	Message Posted: Apr 18, 2012 5:47:36 PM Ignore hauler43 Report Abuse Lets hope this works, not just for jobs sake, but to help prices from rising out of control
dougtaylor1 Champion Author Phoenix Posts:1,781 Points:457,150 Joined:Jun 2011	Message Posted: Apr 18, 2012 5:43:56 PM Ignore dougtaylor1 Report Abuse Weak profits due to regulation. Get rid of the Department of Lack of Energy.
BM4225 Champion Author Atlanta Posts:10,239 Points:2,118,805 Joined:Aug 2006	Message Posted: Apr 18, 2012 5:38:01 PM Ignore BM4225 Report Abuse If they buy it from what I understand that it will need to be refited to process the cheaper type of oil that is available to enable for it to make a profit. Is this doable?
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Apr 18, 2012 5:35:50 PM Ignore frostyWV Report Abuse wait and see.