GasBuddy Blog

GasBuddy News Article

votes

Energy Transfer Partners buys Sunoco for $5.3 billion

GasBuddy Blog -- Energy Transfer Partners, a Dallas-based energy and pipeline company, has bought Sunoco, the 126-year old Philadelphia oil company, for $5.3 billion, the Philadelphia Inquirer is reporting today.

Sunoco's 4,900 retail fuel outlets will continue to operate under the Sunoco brand, and its pipeline affiliate, Sunoco Logistics Partners, will maintain its headquarters in Philadelphia. Under the merger agreement Sunoco continues, as planned, to exit the refining business.

With Energy Transfer Partners, Sunoco will also continue to pursue a proposed refinery joint venture between Sunoco and The Carlyle Group, a private equity manager, that could continue to operate Sunoco's Philly refinery, the largest refinery on the east...

Read the Full Article

Submitted Apr 30, 2012 By: PD

Back To News

Category: GasBuddy Official Blog > Topics	Add to favorite topics Post New Topic

Author	Topic: Energy Transfer Partners buys Sunoco for $5.3 billion	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First

Next Last

Jkent1953 Champion Author Salt Lake City Posts:1,981 Points:438,985 Joined:Dec 2011	Message Posted: May 7, 2012 10:31:35 AM Ignore Jkent1953 Report Abuse We need all the refining we can get.
VomVom Champion Author Calgary Posts:3,857 Points:1,627,080 Joined:May 2007	Message Posted: May 5, 2012 11:49:52 AM Ignore VomVom Report Abuse The bottomline is, the East Coast refineries are still paying Brent price for feedstock as compared to the Gulf Coast one where they are paying WTI. For those that have upgraded to refine dilbit, they pay even less and can use Canadian, Venezuela, East Utah oil sands dilbit or California heavy. Dilbit is selling at around $77/barrel.
albert2008 Champion Author Winnipeg Posts:7,337 Points:1,478,085 Joined:Sep 2008	Message Posted: May 4, 2012 9:05:02 AM Ignore albert2008 Report Abuse good for them
honda0105 Champion Author Tallahassee Posts:18,599 Points:1,607,570 Joined:Nov 2008	Message Posted: May 4, 2012 5:57:49 AM Ignore honda0105 Report Abuse time will tell if the sale will hurt the consumer.
Donatelo Champion Author Dayton Posts:1,118 Points:291,825 Joined:Apr 2011	Message Posted: May 2, 2012 10:04:15 AM Ignore Donatelo Report Abuse ok
driver169 Champion Author New York Posts:12,125 Points:2,559,200 Joined:Jan 2006	Message Posted: May 1, 2012 8:32:15 PM Ignore driver169 Report Abuse I actually took the time to look at some "viewpoints". Nothing has changed here. What a waste of time.
Cheepo Champion Author Tampa Posts:9,889 Points:3,128,005 Joined:Apr 2003	Message Posted: May 1, 2012 5:44:35 PM Ignore Cheepo Report Abuse So???????
KAR120CSII Champion Author Oregon Posts:3,167 Points:618,645 Joined:Apr 2010	Message Posted: May 1, 2012 5:37:28 PM Ignore KAR120CSII Report Abuse Agree -- seems fishy. But the Caryle Group smells like week old salmon.
Digger52 Champion Author Chicago Posts:2,392 Points:846,760 Joined:Aug 2008	Message Posted: May 1, 2012 4:06:30 PM Ignore Digger52 Report Abuse OK
Barfood Champion Author St. Louis Posts:3,296 Points:1,015,080 Joined:Jun 2009	Message Posted: May 1, 2012 3:36:52 PM Ignore Barfood Report Abuse This was yesterday's news too.
52MPG Champion Author Dayton Posts:7,252 Points:1,739,755 Joined:Apr 2006	Message Posted: May 1, 2012 3:35:39 PM Ignore 52MPG Report Abuse Wait and see.
bigdipperMS Champion Author Mississippi Posts:1,502 Points:534,725 Joined:Apr 2011	Message Posted: May 1, 2012 2:57:41 PM Ignore bigdipperMS Report Abuse Interesting.
esquared Champion Author Oklahoma City Posts:8,057 Points:1,967,410 Joined:Jan 2006	Message Posted: May 1, 2012 2:54:08 PM Ignore esquared Report Abuse Economy is clearly up-ticking....
bad_toad_2000 Veteran Author Dallas Posts:386 Points:527,040 Joined:Aug 2005	Message Posted: May 1, 2012 2:38:21 PM Ignore bad_toad_2000 Report Abuse I like lots of little refinery operators. Competition is good.
Bigtex09 Champion Author Dallas Posts:4,273 Points:1,157,110 Joined:Oct 2009	Message Posted: May 1, 2012 2:16:21 PM Ignore Bigtex09 Report Abuse ok
deaconjones Champion Author Cleveland Posts:2,119 Points:318,255 Joined:May 2006	Message Posted: May 1, 2012 2:09:09 PM Ignore deaconjones Report Abuse another repeat article....remember the rules....five stories a day and do not repeat stories......
uptherefiners Champion Author Chicago Posts:5,048 Points:1,002,000 Joined:Jun 2006	Message Posted: May 1, 2012 2:05:57 PM Ignore uptherefiners Report Abuse maybe they have mgt smart enough to run the refinery profitably
khareabhishek All-Star Author Milwaukee Posts:812 Points:401,655 Joined:Feb 2010	Message Posted: May 1, 2012 2:04:57 PM Ignore khareabhishek Report Abuse How suddenly all refineries being sold out, looks like something fishy.
tasha88CA All-Star Author California Posts:602 Points:43,315 Joined:Mar 2012	Message Posted: May 1, 2012 2:04:37 PM Ignore tasha88CA Report Abuse k
goodbuy Champion Author Michigan Posts:7,658 Points:1,419,880 Joined:May 2005	Message Posted: May 1, 2012 1:59:30 PM Ignore goodbuy Report Abuse Did they use a government loan?
mastermariner Champion Author Texas Posts:4,247 Points:493,010 Joined:Jun 2011	Message Posted: May 1, 2012 1:58:37 PM Ignore mastermariner Report Abuse same report as yesterday, post something new.
ciimike Champion Author Nevada Posts:4,638 Points:1,061,310 Joined:Aug 2005	Message Posted: May 1, 2012 1:55:13 PM Ignore ciimike Report Abuse Transfer of power. Good luck to them.
nigelb Champion Author Virginia Posts:8,444 Points:1,388,830 Joined:Feb 2008	Message Posted: May 1, 2012 1:55:11 PM Ignore nigelb Report Abuse Old news.
Soglaos Champion Author Virginia Beach Posts:2,770 Points:736,485 Joined:Feb 2011	Message Posted: May 1, 2012 1:54:28 PM Ignore Soglaos Report Abuse As long as it continues to operate who really cares who owns it.
Alaydown Champion Author Los Angeles Posts:5,098 Points:820,470 Joined:May 2007	Message Posted: May 1, 2012 1:49:52 PM Ignore Alaydown Report Abuse Sounds like a good move by Sunoco to sell that part of their business. Energy Transfer Partners will probably lose money on that deal.
bluebird1 Champion Author Toronto Posts:15,721 Points:3,106,070 Joined:May 2004	Message Posted: May 1, 2012 1:44:20 PM Ignore bluebird1 Report Abuse So how will speculators spin this into higher oil/gas prices????
srchr Champion Author San Jose Posts:7,238 Points:1,617,125 Joined:Apr 2008	Message Posted: May 1, 2012 1:43:36 PM Ignore srchr Report Abuse need more of them
dacofa Champion Author Nevada Posts:5,371 Points:1,147,905 Joined:Jan 2010	Message Posted: May 1, 2012 1:43:30 PM Ignore dacofa Report Abuse Take the money and run
Heltonw Champion Author Montana Posts:3,299 Points:1,657,415 Joined:Dec 2007	Message Posted: May 1, 2012 1:41:15 PM Ignore Heltonw Report Abuse What is Sunoco going to do with all that money?
Harry813 Champion Author Iowa Posts:2,995 Points:659,915 Joined:Jul 2011	Message Posted: May 1, 2012 1:39:52 PM Ignore Harry813 Report Abuse Well.... Hope they won't ask for a bailout,
JXD Champion Author Kitchener-Waterloo Posts:1,284 Points:1,060,735 Joined:Jun 2007	Message Posted: May 1, 2012 1:39:19 PM Ignore JXD Report Abuse Wow!
Bud122CA Champion Author California Posts:7,456 Points:1,603,900 Joined:Jul 2008	Message Posted: May 1, 2012 1:37:39 PM Ignore Bud122CA Report Abuse And we wonder why prices at the pump are high???? 5.3 Billion ??
marsbars Champion Author Alaska Posts:2,658 Points:1,179,820 Joined:Sep 2006	Message Posted: May 1, 2012 1:37:12 PM Ignore marsbars Report Abuse OK
WhiteTreeIndian Champion Author New Jersey Posts:5,644 Points:1,120,160 Joined:Dec 2009	Message Posted: May 1, 2012 1:35:57 PM Ignore WhiteTreeIndian Report Abuse Well they will prob want to suck money from the biz and customers, us.
felinePA All-Star Author Pennsylvania Posts:580 Points:41,105 Joined:Aug 2011	Message Posted: May 1, 2012 1:35:50 PM Ignore felinePA Report Abuse Wish them lots of luck.
GRUMPY55 Champion Author California Posts:1,619 Points:421,450 Joined:Oct 2011	Message Posted: May 1, 2012 1:35:06 PM Ignore GRUMPY55 Report Abuse ok
bullseye100 Champion Author New Jersey Posts:2,414 Points:582,155 Joined:Aug 2011	Message Posted: May 1, 2012 1:31:13 PM Ignore bullseye100 Report Abuse I hope it keeps prices down on the east coast.
RickF350 Champion Author Washington Posts:3,411 Points:705,310 Joined:Apr 2008	Message Posted: May 1, 2012 1:30:31 PM Ignore RickF350 Report Abuse Hope it works out for them.
bevmill Champion Author Georgia Posts:2,567 Points:598,370 Joined:Apr 2006	Message Posted: May 1, 2012 1:30:12 PM Ignore bevmill Report Abuse Good post.
divebomber Champion Author Nebraska Posts:6,068 Points:1,810,325 Joined:Jun 2007	Message Posted: May 1, 2012 1:29:23 PM Ignore divebomber Report Abuse BIG CHANGES, NOT FOR THE BETTER!
sparky808 Champion Author Honolulu Posts:2,986 Points:595,785 Joined:Sep 2011	Message Posted: May 1, 2012 1:27:00 PM Ignore sparky808 Report Abuse Thank you for posting.
ScottTee Champion Author Detroit Posts:4,376 Points:1,060,670 Joined:Mar 2010	Message Posted: May 1, 2012 1:26:52 PM Ignore ScottTee Report Abuse companies are always buying & selling assets
Wolfwings Champion Author Delaware Posts:8,725 Points:1,773,540 Joined:May 2004	Message Posted: May 1, 2012 1:25:12 PM Ignore Wolfwings Report Abuse With luck, the old workers can get new jobs.
19sheldon43 Champion Author Los Angeles Posts:3,979 Points:843,010 Joined:Jul 2009	Message Posted: May 1, 2012 1:21:56 PM Ignore 19sheldon43 Report Abuse It was a good report yesterday, today its boring and you shouldn't get votes for the same report in two days
CAD69 Champion Author Milwaukee Posts:3,191 Points:844,065 Joined:Nov 2010	Message Posted: May 1, 2012 1:20:51 PM Ignore CAD69 Report Abuse Is this a good thing?
DevilMachine Sophomore Author Durham Posts:214 Points:237,080 Joined:Apr 2010	Message Posted: May 1, 2012 1:20:18 PM Ignore DevilMachine Report Abuse what does this have to do with the price of tea in china?
bigmace111 Champion Author Albany Posts:2,708 Points:611,675 Joined:May 2011	Message Posted: May 1, 2012 1:17:39 PM Ignore bigmace111 Report Abuse Hopefully this will help the price of gas go down.
GryphonX Champion Author Nevada Posts:6,095 Points:1,585,525 Joined:Nov 2007	Message Posted: May 1, 2012 1:15:46 PM Ignore GryphonX Report Abuse This purchase makes me really nervous, too ... and I'm not sure exactly why ...
bridgerunner Champion Author Virginia Posts:4,777 Points:1,004,885 Joined:Jul 2009	Message Posted: May 1, 2012 1:14:43 PM Ignore bridgerunner Report Abuse That's a lot of money.
NotTom Champion Author New Hampshire Posts:5,341 Points:1,383,115 Joined:Aug 2005	Message Posted: May 1, 2012 1:11:29 PM Ignore NotTom Report Abuse OK