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Sunoco. Sunoco LP / səˈnoʊkoʊ / is an American master limited partnership organized under Delaware state laws and headquartered in Dallas, Texas. Dating back to 1886, the company has transitioned from a vertically integrated energy company to a distributor of fuels and operator of midstream services. It was previously engaged in oil ...
Apr 14, 2024 · It’s happened before. ... The refinery’s employees, including Motley, were let go that September. ... PES is no longer functioning as a refining company, but Sunoco, whose subsidiary Evergreen ...
Oct 17, 2023 · Sunoco purchased the Atlantic refinery in 1988, and in 1994 bought the neighboring land from Chevron and consolidated the two facilities. The combined plant was the biggest refinery on the East Coast.
- Environmental Cleanup
- Permits and Regulatory Approvals
- Dismantling The Refinery
- Community Involvement
To redevelop the site into something other than a refinery — and to close the sale — Hilco, PES and Sunoco, the refinery’s former owner, will need to agree to removing a deed restriction incorporated into the 2012 buyer-seller agreement between Sunoco and PES. The deed restriction narrows the definition of construction and development allowed in th...
To complete the sale, the property must be free and clear of any liens, encumbrances, rights, claims, or other obligations or liabilities. That means Philadelphia Energy Solutions will have to close claims, pay fees for violations, finish contracts and leases, terminate the collective bargaining agreement with the unions representing its onetime em...
If Hilco doesn’t continue in the business of refining oil, terminating a 130-year legacy in Philadelphia, it will most likely need to dismantle the refinery, sell what it can for parts or scrap, then demolish the rest. That could take years. “It’s going to be a long process,” said Marvin O. Schlanger, a retired executive who spent years in the refi...
Both Philadelphia’s City Council and the Kenney administration have said they expect the refinery’s new owner to engage “meaningfully with the surrounding communities.” “I think they’ve shown that they are likely to be a really strong partner with the city and recognize the importance of this site to the city’s future,” Abernathy said. “So in that ...
Oct 19, 2023 · The refinery shut down in 2019, after a massive fire and explosion. Chicago-based Hilco Redevelopment Partners bought the site out of bankruptcy for $225 million the next year. The company has been demolishing the refinery’s tangle of pipes, tanks, and buildings ahead of schedule — and Monday, officially kicked off vertical construction on ...
- Sophia Schmidt
Oil refining took place in South Philadelphia since 1870, first at Point Breeze and later at Girard Point, with both facilities later purchased by Sunoco. The Philadelphia Energy Solutions (PES) refinery, closed in 2019, was the “single largest contributor to the toxic and hazardous air pollution in the City of Philadelphia,” says Marilyn Howarth.
People also ask
What happened to Sunoco Refinery?
When did Sunoco buy the Atlantic refinery?
Why did Sunoco close the Marcus Hook refinery?
Is Sunoco going out of business?
When did Sunoco become Sun Oil Company?
What happened at the Philadelphia Energy Solutions refinery?
Mar 27, 2023 · Sunoco started planning its exit a decade before the refinery finally closed. Sunoco worked together with private equity firm Carlyle Group to create a new corporate entity called Philadelphia Energy Solutions, and together they used the threat of closure and lost jobs to repeatedly extract subsidies from the state and federal government and to gain concessions from workers.
