April 19, 2012 |
IN THE REGION Pols: Keep it as a refinery U.S. Sen. Bob Casey Jr. (D., Pa.) and the Delaware County Council urged ConocoPhillips to sell its refinery in Trainer to a buyer that would keep the refinery operating as a manufacturing facility rather than turn it into a fuel storage terminal. Prompted by rumors that potential buyers of the ConocoPhillips refinery in Trainer plan to shut down the plant, the elected leaders wrote to ConocoPhillips chief executive James Mulva to urge him to sell the plant to buyer that would operate it as a refinery, which would employ more people and require more investment than a fuel-storage facility.
January 22, 2012 |
At Trainer Borough's "psychic night" of entertainment two months ago, several residents who had their fortunes read left the community center sobbing. Organizer Marilyn Maher has a hunch why. "Two refineries are closing. My husband is losing his job. Our taxes are going up," she said. " Hel-lo? " Strung along the river in southern Delaware County, blue-collar towns like Chester, Marcus Hook, and Trainer once formed the racing heart of the region's shipbuilding industry, which employed tens of thousands at its height during World War II. In the decades afterward, those communities got to know too well the pain of prosperity gone by. That doesn't make it any easier now. The projected March closings of the Sunoco-Marcus Hook and ConocoPhillips refineries, with the direct loss of about 1,500 jobs; the insolvency of the Chester Upland School District; the shuttering in June of a beloved 95-year-old Catholic parochial school - all are ratcheting up the already ingrained stress in these faded industrial towns.
April 24, 2012 |
Sunoco Inc. may have found the rescuer for its sprawling South Philadelphia refinery. The Philadelphia company announced Monday that it has entered into exclusive talks with the Carlyle Group, a large private-equity manager with legendary political connections, to run the plant as a joint venture. The refinery, the largest on the East Coast, is Sunoco's last operating fuel-manufacturing plant. Sunoco, which has promised to shut down the 335,000-barrel-per-day refinery this summer if it is unable to find a buyer, would contribute the refinery assets in exchange for a nonoperating minority interest in the joint venture.
December 20, 2011 |
Sunoco Inc. and ConocoPhillips are shopping their Delaware River refineries to a small group of potential buyers who might keep them open, saving about a thousand threatened jobs. But elected officials and labor leaders who met Monday with representatives of the oil companies expressed frustration that they know little more about the seriousness or intentions of the buyers. "They're precluded from telling us what may be going on at this time," U.S. Rep. Pat Meehan (R., Pa.)
June 30, 2011 |
Sunoco Logistics Partners L.P., the unexciting but reliably profitable pipeline subsidiary of Sunoco Inc., is buying two fuel terminals for $156 million that will extend the reach of its supply network. Sunoco Logistics is buying the tank farm at Sunoco's Eagle Point property in Westville, Gloucester County, from the parent company for $100 million. It is also buying a refined-products terminal in East Boston, Mass., from ConocoPhillips for $56 million. The Eagle Point tank farm, next to a refinery that Sunoco shut in 2009, has five million barrels of storage capacity.
March 8, 2012 |
U.S. Sen. Bob Casey Jr., who has publicly demanded that Sunoco Inc. account for its decision to exit refining, appears to have mended fences with the Philadelphia oil company. The Pennsylvania Democrat met with the new Sunoco chief executive, Brian P. MacDonald, on Thursday at his office in the capital, and both parties had conciliatory statements afterward. "I think it's important that we look forward now," Casey said in a telephone interview. "Having this discussion today was for me, just speaking for myself, very helpful.
July 4, 2012 |
Charles Wilson can hardly wait for Thursday. That's when he'll next report to his job at Sunoco's South Philadelphia refinery. To repeat for emphasis: He is going to report to his job at the refinery. "It's a breath of fresh air," said Wilson, 51, of Woodlyn, Delaware County. Or maybe it's a sigh of relief, one giant exhale, not only for Wilson, but for his 850 coworkers at the plant. Gone is the heavy fear of being one of Sunoco's doomed castoffs, rendered useless along with its sprawling South Philadelphia refinery that had been slated to close.
January 2, 2013 |
On Sunday, Philly Deals columnist Joseph N. DiStefano reviewed the top 10 business stories of 2012. Today, I take a stab at five local story lines to watch in 2013. First, can an airline really run a refinery better than an oil company? Delta Air Lines has high hopes for its Trainer complex, which restarted just about the time Hurricane Sandy hit in late October. Sure, it's not as if pilots and flight attendants are in charge of fuel production in Delaware County.