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Sunoco gives up on retail heating oil September 12, 2009

Posted by mytruthaboutoil in Oil giants.
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The US based company Sunoco lately announced that it would sell its retail heating oil as well as propane distribution businesses to Superior Plus Corp.

It apparently will be a $82.5 million deal in cash. The deal should be completed by the end of September.

This move shows once again the Philadelphia based co;pany strategy and will to become a more coherent company.

Sunoco will now focus on its core business: refining and marketing oil.

For those who don’t know this independent refiner here are some interesting figures: 825,000 barrels per day of refining capacity, approximately 4,700 retail sites selling gasoline an convenience items, approximately 6,000 miles of crude oil and refined product owned and operated pipelines and 43 product terminals

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