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GasBuddy News Article

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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...


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Submitted Apr 30, 2012 By: PD
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Author Topic: Energy Transfer Partners buys Sunoco for $5.3 billion Back to Topics
REPLIES (newest first) Post a Reply
Jkent1953
Champion Author Salt Lake City

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Message Posted: May 7, 2012 9:31:35 AM

We need all the refining we can get.
VomVom
Champion Author Calgary

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Joined:May 2007
Message Posted: May 5, 2012 10:49:52 AM

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

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Message Posted: May 4, 2012 8:05:02 AM

good for them
honda0105
Champion Author Tallahassee

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Message Posted: May 4, 2012 4:57:49 AM

time will tell if the sale will hurt the consumer.
Donatelo
Champion Author Dayton

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Message Posted: May 2, 2012 9:04:15 AM

ok
driver169
Champion Author New York

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Message Posted: May 1, 2012 7:32:15 PM

I actually took the time to look at some "viewpoints". Nothing has changed here. What a waste of time.
Cheepo
Champion Author Tampa

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Message Posted: May 1, 2012 4:44:35 PM

So???????
KAR120CSII
Champion Author Oregon

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Message Posted: May 1, 2012 4:37:28 PM

Agree -- seems fishy. But the Caryle Group smells like week old salmon.
Digger52
Champion Author Chicago

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Message Posted: May 1, 2012 3:06:30 PM

OK
Barfood
Champion Author St. Louis

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Message Posted: May 1, 2012 2:36:52 PM

This was yesterday's news too.
52MPG
Champion Author Dayton

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Message Posted: May 1, 2012 2:35:39 PM

Wait and see.
bigdipperMS
Champion Author Mississippi

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Message Posted: May 1, 2012 1:57:41 PM

Interesting.
esquared
Champion Author Oklahoma City

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Message Posted: May 1, 2012 1:54:08 PM

Economy is clearly up-ticking....
bad_toad_2000
Veteran Author Dallas

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Message Posted: May 1, 2012 1:38:21 PM

I like lots of little refinery operators. Competition is good.
Bigtex09
Champion Author Dallas

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Message Posted: May 1, 2012 1:16:21 PM

ok
deaconjones
Champion Author Cleveland

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Message Posted: May 1, 2012 1:09:09 PM

another repeat article....remember the rules....five stories a day and do not repeat stories......
uptherefiners
Champion Author Chicago

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Message Posted: May 1, 2012 1:05:57 PM

maybe they have mgt smart enough to run the refinery profitably
khareabhishek
All-Star Author Milwaukee

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Message Posted: May 1, 2012 1:04:57 PM

How suddenly all refineries being sold out, looks like something fishy.
tasha88CA
All-Star Author California

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Message Posted: May 1, 2012 1:04:37 PM

k
goodbuy
Champion Author Michigan

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Message Posted: May 1, 2012 12:59:30 PM

Did they use a government loan?
mastermariner
Champion Author Texas

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Message Posted: May 1, 2012 12:58:37 PM

same report as yesterday, post something new.
ciimike
Champion Author Nevada

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Message Posted: May 1, 2012 12:55:13 PM

Transfer of power. Good luck to them.
nigelb
Champion Author Virginia

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Message Posted: May 1, 2012 12:55:11 PM

Old news.
Soglaos
Champion Author Virginia Beach

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Message Posted: May 1, 2012 12:54:28 PM

As long as it continues to operate who really cares who owns it.
Alaydown
Champion Author Los Angeles

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Message Posted: May 1, 2012 12:49:52 PM

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

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Message Posted: May 1, 2012 12:44:20 PM

So how will speculators spin this into higher oil/gas prices????
srchr
Champion Author San Jose

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Message Posted: May 1, 2012 12:43:36 PM

need more of them
dacofa
Champion Author Nevada

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Message Posted: May 1, 2012 12:43:30 PM

Take the money and run
Heltonw
Champion Author Montana

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Message Posted: May 1, 2012 12:41:15 PM

What is Sunoco going to do with all that money?
Harry813
Champion Author Iowa

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Message Posted: May 1, 2012 12:39:52 PM

Well.... Hope they won't ask for a bailout,
JXD
Champion Author Kitchener-Waterloo

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Message Posted: May 1, 2012 12:39:19 PM

Wow!
Bud122CA
Champion Author California

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Message Posted: May 1, 2012 12:37:39 PM

And we wonder why prices at the pump are high???? 5.3 Billion ??
marsbars
Champion Author Alaska

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Message Posted: May 1, 2012 12:37:12 PM

OK
WhiteTreeIndian
Champion Author New Jersey

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Message Posted: May 1, 2012 12:35:57 PM

Well they will prob want to suck money from the biz and customers, us.
felinePA
All-Star Author Pennsylvania

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Message Posted: May 1, 2012 12:35:50 PM

Wish them lots of luck.
GRUMPY55
Champion Author California

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Message Posted: May 1, 2012 12:35:06 PM

ok
bullseye100
Champion Author New Jersey

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Message Posted: May 1, 2012 12:31:13 PM

I hope it keeps prices down on the east coast.
RickF350
Champion Author Washington

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Message Posted: May 1, 2012 12:30:31 PM

Hope it works out for them.
bevmill
Champion Author Georgia

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Message Posted: May 1, 2012 12:30:12 PM

Good post.
divebomber
Champion Author Nebraska

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Message Posted: May 1, 2012 12:29:23 PM

BIG CHANGES, NOT FOR THE BETTER!
sparky808
Champion Author Honolulu

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Message Posted: May 1, 2012 12:27:00 PM

Thank you for posting.
ScottTee
Champion Author Detroit

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Message Posted: May 1, 2012 12:26:52 PM

companies are always buying & selling assets
Wolfwings
Champion Author Delaware

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Message Posted: May 1, 2012 12:25:12 PM

With luck, the old workers can get new jobs.
19sheldon43
Champion Author Los Angeles

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Message Posted: May 1, 2012 12:21:56 PM

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

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Message Posted: May 1, 2012 12:20:51 PM

Is this a good thing?
DevilMachine
Sophomore Author Durham

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Message Posted: May 1, 2012 12:20:18 PM

what does this have to do with the price of tea in china?
bigmace111
Champion Author Albany

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Message Posted: May 1, 2012 12:17:39 PM

Hopefully this will help the price of gas go down.
GryphonX
Champion Author Nevada

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Points:2,211,500
Joined:Nov 2007
Message Posted: May 1, 2012 12:15:46 PM

This purchase makes me really nervous, too ... and I'm not sure exactly why ...
bridgerunner
Champion Author Virginia

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Message Posted: May 1, 2012 12:14:43 PM

That's a lot of money.
NotTom
Champion Author New Hampshire

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Message Posted: May 1, 2012 12:11:29 PM

OK
CISA
Champion Author Orange County

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Message Posted: May 1, 2012 12:10:46 PM

are refineries in a turnaround?
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