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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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slvrdo_dsprdo Champion Author Nashville Posts:4,788 Points:928,265 Joined:Jul 2008	Message Posted: May 1, 2012 11:06:29 AM Ignore slvrdo_dsprdo Report Abuse Now they're too big to fail.
nehemiah Champion Author Portland Posts:4,891 Points:957,115 Joined:Jul 2007	Message Posted: May 1, 2012 11:06:18 AM Ignore nehemiah Report Abuse short term solution
tco9436 Champion Author Connecticut Posts:1,807 Points:743,650 Joined:Mar 2010	Message Posted: May 1, 2012 11:06:09 AM Ignore tco9436 Report Abuse great
greenfog Champion Author Illinois Posts:6,625 Points:1,665,745 Joined:Feb 2008	Message Posted: May 1, 2012 11:05:28 AM Ignore greenfog Report Abuse this doesn't sound good, wonder how soon they will pull the plug on sunoco stations?
flydudemi All-Star Author Detroit Posts:621 Points:600,560 Joined:May 2011	Message Posted: May 1, 2012 10:58:33 AM Ignore flydudemi Report Abuse not news
gasman50 Champion Author Portland Posts:8,978 Points:2,436,190 Joined:Nov 2005	Message Posted: May 1, 2012 10:58:10 AM Ignore gasman50 Report Abuse Yesterdays news
abacus44 Champion Author Toms River Posts:3,600 Points:773,790 Joined:Jan 2011	Message Posted: May 1, 2012 10:58:06 AM Ignore abacus44 Report Abuse Good to see the refineries being kept in service.
TopGunn Champion Author Baltimore Posts:9,321 Points:2,643,005 Joined:Aug 2004	Message Posted: May 1, 2012 10:56:40 AM Ignore TopGunn Report Abuse Old news.
MustangRacing Champion Author Virginia Posts:1,963 Points:675,885 Joined:May 2011	Message Posted: May 1, 2012 10:56:27 AM Ignore MustangRacing Report Abuse Name of the game, build up your brand and then sell it.
TustinDad Champion Author Orange County Posts:4,377 Points:915,560 Joined:Feb 2008	Message Posted: May 1, 2012 10:54:29 AM Ignore TustinDad Report Abuse Papa_Gallo wrote: "Is the Carlyle group betting on Obama being a one termer?" Most everybody else is, so why not? With Frick and Frack, the two bible thumpers, gone from the race, Romney has an excellent chance to win.
NanookAK Champion Author Anchorage Posts:7,413 Points:1,467,740 Joined:Nov 2007	Message Posted: May 1, 2012 10:51:52 AM Ignore NanookAK Report Abuse So?
Aserdaten Champion Author Florida Posts:3,560 Points:2,078,530 Joined:Apr 2006	Message Posted: May 1, 2012 10:48:19 AM Ignore Aserdaten Report Abuse Just think - I was saving my money to go out and buy this place myself. Just came up a couple of hundred billions short! Can certainly hope that this refinery will continue at top capacity, and maybe the new owners will be able to buy and operate the Marcus Hook location soon after this deal is completed.
W5IEM Veteran Author Lexington Posts:265 Points:377,595 Joined:Mar 2012	Message Posted: May 1, 2012 10:46:25 AM Ignore W5IEM Report Abuse Interesting move...
Papa_Gallo Champion Author Houston Posts:1,081 Points:431,735 Joined:Mar 2011	Message Posted: May 1, 2012 10:44:08 AM Ignore Papa_Gallo Report Abuse Is the Carlyle group betting on Obama being a one termer?
Retowered Champion Author Colorado Posts:8,717 Points:2,713,115 Joined:May 2004	Message Posted: May 1, 2012 10:43:49 AM Ignore Retowered Report Abuse Time will tell on this one, We can hope for fuel prices to go down maybe.
PithyOpiner Champion Author Stockton Posts:16,389 Points:1,623,295 Joined:Jun 2008	Message Posted: May 1, 2012 10:42:28 AM Ignore PithyOpiner Report Abuse You are witnessing a huge corporation, The Carlyle Group, in action. The Carlyle Group is a global alternative asset manager with $147 billion in assets under management in 89 active funds and 52 fund of fund vehicles investing in Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions as of December 31, 2011. So, they've been in business just 4 months? Where did the $147 billion come from in such a short time?
peanutsMN Champion Author Twin Cities Posts:1,823 Points:412,615 Joined:Jul 2011	Message Posted: May 1, 2012 10:41:34 AM Ignore peanutsMN Report Abuse OK
putz247 Champion Author Ohio Posts:2,300 Points:525,210 Joined:Aug 2011	Message Posted: May 1, 2012 10:40:09 AM Ignore putz247 Report Abuse yes sir!
2granny Champion Author Michigan Posts:9,710 Points:1,492,980 Joined:Apr 2009	Message Posted: May 1, 2012 10:39:40 AM Ignore 2granny Report Abuse Should be good for the refinery workers.
sciotosix Champion Author Dayton Posts:2,884 Points:693,600 Joined:Apr 2011	Message Posted: May 1, 2012 10:38:15 AM Ignore sciotosix Report Abuse Would be a good time to upgrade these facilities.
stevencr Champion Author Ohio Posts:5,792 Points:1,461,490 Joined:Mar 2009	Message Posted: May 1, 2012 10:37:45 AM Ignore stevencr Report Abuse Keeping refineries up and operating is good. Will it help to lower the price of gas?
CPayZombie Champion Author Phoenix Posts:10,215 Points:1,682,340 Joined:Aug 2008	Message Posted: May 1, 2012 10:36:43 AM Ignore CPayZombie Report Abuse That is a lot of bling.
sit Champion Author Cleveland Posts:5,330 Points:1,958,945 Joined:Feb 2006	Message Posted: May 1, 2012 10:35:45 AM Ignore sit Report Abuse OK
run4gxc Champion Author Ohio Posts:2,755 Points:626,630 Joined:May 2011	Message Posted: May 1, 2012 10:34:24 AM Ignore run4gxc Report Abuse good thing
repeater1 Champion Author Topeka Posts:8,437 Points:2,392,525 Joined:Oct 2005	Message Posted: May 1, 2012 10:34:12 AM Ignore repeater1 Report Abuse I wondered the same thing Train Rider. Didn't make a lot of sense.
hibsaw Champion Author Mississippi Posts:8,178 Points:1,708,690 Joined:Feb 2008	Message Posted: May 1, 2012 10:33:56 AM Ignore hibsaw Report Abuse Very good news for 402 refinery workers.
ramshot412 Champion Author Riverside Posts:20,274 Points:2,490,590 Joined:Apr 2004	Message Posted: May 1, 2012 10:32:13 AM Ignore ramshot412 Report Abuse "Does anyone know if ARCO still has a refinery in South Philly? At one time there was an Atlantic Refinery but that is the company that became ARCO." And Arco was bought by BP.
rippinusoff Champion Author Lexington Posts:7,538 Points:1,514,500 Joined:May 2007	Message Posted: May 1, 2012 10:31:39 AM Ignore rippinusoff Report Abuse sure
Diesel_Ram Champion Author Dallas Posts:6,634 Points:1,545,125 Joined:Jan 2009	Message Posted: May 1, 2012 10:30:00 AM Ignore Diesel_Ram Report Abuse Must be a master plan behind this
TRAIN RIDER Champion Author San Bernardino Posts:9,217 Points:2,784,545 Joined:Oct 2004	Message Posted: May 1, 2012 10:29:16 AM Ignore TRAIN RIDER Report Abuse Did I read this right? One line says Sunoco will exit the refining business and the next line says they will continue to pursue a proposed refinery venture.
Old Timer Champion Author Akron Posts:3,873 Points:1,289,515 Joined:Sep 2003	Message Posted: May 1, 2012 10:29:11 AM Ignore Old Timer Report Abuse Sounds good.
jd4230 Champion Author Missouri Posts:1,590 Points:765,115 Joined:Jul 2005	Message Posted: May 1, 2012 10:27:35 AM Ignore jd4230 Report Abuse Interesting
mk9999 Champion Author Rochester Posts:8,055 Points:1,701,545 Joined:Aug 2008	Message Posted: May 1, 2012 10:27:30 AM Ignore mk9999 Report Abuse This will raise prices.
waynemustang Champion Author Indiana Posts:6,465 Points:1,690,260 Joined:Nov 2006	Message Posted: May 1, 2012 10:27:08 AM Ignore waynemustang Report Abuse Good, I hope Sunoco will build new refineries, too.
DTrainCanada Champion Author Saskatoon Posts:1,848 Points:1,445,600 Joined:Aug 2005	Message Posted: May 1, 2012 10:26:10 AM Ignore DTrainCanada Report Abuse Rich get richer ...
Holly123 Champion Author Charlotte Posts:3,332 Points:817,460 Joined:Dec 2010	Message Posted: May 1, 2012 10:26:00 AM Ignore Holly123 Report Abuse Sounds good.
umitb Champion Author Indianapolis Posts:3,817 Points:870,165 Joined:Apr 2010	Message Posted: May 1, 2012 10:23:34 AM Ignore umitb Report Abuse good
briinnc Champion Author North Carolina Posts:2,705 Points:834,820 Joined:Jan 2010	Message Posted: May 1, 2012 10:23:30 AM Ignore briinnc Report Abuse OK, I guess. No Sunoco near here.
jimbo1867 Champion Author Arizona Posts:5,512 Points:2,082,250 Joined:Apr 2005	Message Posted: May 1, 2012 10:21:21 AM Ignore jimbo1867 Report Abuse okay
essel Champion Author Virginia Posts:2,833 Points:1,067,270 Joined:Nov 2007	Message Posted: May 1, 2012 10:19:52 AM Ignore essel Report Abuse ok
bills299 Champion Author Atlanta Posts:3,506 Points:932,190 Joined:May 2005	Message Posted: May 1, 2012 10:16:02 AM Ignore bills299 Report Abuse Sounds good!!
Dphillips720 Champion Author Michigan Posts:1,417 Points:549,850 Joined:Mar 2011	Message Posted: May 1, 2012 10:14:03 AM Ignore Dphillips720 Report Abuse Cool
essel Champion Author Virginia Posts:2,833 Points:1,067,270 Joined:Nov 2007	Message Posted: May 1, 2012 10:12:40 AM Ignore essel Report Abuse ok
mikerroy Champion Author Albuquerque Posts:2,691 Points:747,175 Joined:May 2005	Message Posted: May 1, 2012 10:11:12 AM Ignore mikerroy Report Abuse OK
IMLURCH Champion Author Minnesota Posts:2,319 Points:1,129,905 Joined:Mar 2009	Message Posted: May 1, 2012 10:10:11 AM Ignore IMLURCH Report Abuse Old Story
Susieq60 All-Star Author Columbus Posts:969 Points:128,915 Joined:Sep 2011	Message Posted: May 1, 2012 10:05:59 AM Ignore Susieq60 Report Abuse good news that the refinery will keep operating
Tutootin Champion Author Toronto Posts:10,256 Points:3,104,155 Joined:Jun 2004	Message Posted: May 1, 2012 10:05:32 AM Ignore Tutootin Report Abuse RangerTrainer, This has resulted in several cases that I have seen where there are two Petro Canada stations one block from each other!
crusader1975 Champion Author Louisiana Posts:1,161 Points:320,040 Joined:Apr 2008	Message Posted: May 1, 2012 10:05:30 AM Ignore crusader1975 Report Abuse Plain old business.
kc58veteran Champion Author Pennsylvania Posts:2,660 Points:613,105 Joined:Jul 2009	Message Posted: May 1, 2012 10:03:25 AM Ignore kc58veteran Report Abuse Good News!
ByGuy Champion Author Dallas Posts:7,981 Points:1,734,950 Joined:Nov 2005	Message Posted: May 1, 2012 10:03:20 AM Ignore ByGuy Report Abuse So be it.
eddyp94 Champion Author Ontario Posts:8,163 Points:1,660,835 Joined:Mar 2008	Message Posted: May 1, 2012 10:02:47 AM Ignore eddyp94 Report Abuse Will this lower oil prices...
Wierbe Champion Author Cincinnati Posts:3,887 Points:1,145,840 Joined:Apr 2006	Message Posted: May 1, 2012 10:02:09 AM Ignore Wierbe Report Abuse The consolidation of gas companies spells higher prices for all due to lack of competition.