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RE: Sunoco Tulsa Coking Refinery – mulls sale

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#6881

Charles Randall
Participant

Here is update on rumors of Sunoco Tulsa Coking Refinery sale.  Original lead on this surfaced back in Dec 2007 and lead was sourced to Holly executive – so they may still be one of companies making an offer on the  85 MBD refinery.
 
Sunoco Tulsa has a $400MM LS Diesel project that is due to complete in 2010.
 
Some of this sale talk might source back to 2007 when Sunoco was upgraded by Soleil Securities analysts to a “Buy” citing the refinery sale, and recommended putting its *coke assets into a master limited partnership, or divesture of its chemical business as moves that would significantly improve earnings. (AP 12/11/07 – http://www.msnbc.msn.com/id/22198572/ ). 
 
*Note – The coke refered to here is Sunoco’s Coal Coke operations ($24MM) via SunCoke Energy (formerly Sun Coke) in Victoria, Brazil, its Jewel Coal operations, the Indiana Harbor Coke plant and a proposed second 550 kmtpy Havermill site (with 67 MW HRSG at cokemaking plant) operational in 2008.
 
Regards

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