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.