Retail Marketing earned $40 million pretax in the current quarter versus $1 million in the fourth quarter of 2010. Sunoco Inc. has reported a net pretax loss attributable to Sunoco shareholders of $660 million for the fourth quarter of 2011 versus pretax income attributable to Sunoco shareholders of $119 million for the fourth quarter of…
Sunoco Reports Q3 Losses
“Market conditions continue to pose challenges for our refining and supply segment and, while the refineries’ operational performance improved during the third quarter with crude utilization averaging 90%, the segment reported another loss,” says Sunoco CEO. Sunoco Inc. has reported a net loss attributable to Sunoco shareholders of $1,096 million ($9.62 per share diluted) for…
Sunoco Releases Q1 2011 Results
Earnings from retail marketing saw a $22 million drop compared to the same quarter in 2010 due to lower average retail gasoline margins. Sunoco Inc. reported a net loss attributable to Sunoco shareholders of $101 million ($0.84 per share diluted) for the first quarter of 2011 compared to a net loss attributable to Sunoco shareholders…
Sunoco Reports Fourth Quarter 2010 Results
Sunoco “finished the year with $1.5 billion in cash, achieved growth in our retail and logistics businesses and improved the competitiveness of our refineries,” says CEO. Sunoco Inc. has reported its fourth quarter results for 2010, including net income attributable to Sunoco shareholders of $87 million ($0.72 per share diluted) compared to the net income…
Sunoco To Continue With Separation of SunCoke
Settlement with ArcelorMittal resolves lawsuit on Coke pricing litigation. Sunoco Inc. is moving forward with the planned separation of SunCoke Energy after reaching an agreement with ArcelorMittal that resolves the lawsuit concerning coke pricing for the Jewell facility. Additional information regarding the planned separation of SunCoke Energy from Sunoco will be discussed on the previously…
SunCoke Energy Buys Virginia Coal Companies
SunCoke Energy, a subsidiary of Sunoco Inc. has purchased the Honaker, Va.-based Harold Keene Coal Co. Inc., its affiliated entities and their related assets for approximately $40 million in cash, including working capital. Coal reserve estimates for the assets of the entities being purchased total at least 16 million tons, with final estimates to be…
Sunoco to Sell Toledo Refinery
Sunoco Inc. has reached a definitive agreement to sell its 170,000 barrel-per-day refinery in Toledo, Ohio to Toledo Refining Company LLC, a wholly owned subsidiary of PBF Holding Company LLC. Sunoco plans to sell the refinery for approximately $400 million (consisting of $200 million in cash and a $200 million two-year note). In addition, the…
Henderson Joins Sunoco
Sunoco Inc. has announced that Frederick “Fritz” Henderson has joined the company as a senior vice president to help prepare for the previously announced separation of SunCoke Energy from Sunoco. Henderson, 52, former president and CEO of General Motors, now is set to be chairman and CEO of SunCoke Energy upon completion of the separation.…
Sunoco Reports Q2 Results
Sunoco Inc. reported its 2010 second quarter results today, including a net income attributable to Sunoco shareholders of $145 million ($1.20 per share diluted) compared to a net loss attributable to Sunoco shareholders of $55 million ($.47 per share diluted) for the second quarter of 2009. “While market conditions during the second quarter remained challenging,…