Sunoco completes sale of Tulsa Refinery

04-Jun-09

Petrochemical products manufacturer Sunoco Inc has completed the sale of its 85,000 barrel-per-day refinery in Tulsa, Okla., to Holly Corporation for US$65 mln. Under the terms of the agreement, Holly Corporation agrees to invest in several necessary upgrades, including installation of a distillate treating system and sulfur recovery unit, to ensure the long-term viability and environmental compliance of the refinery. The Tulsa refinery, which began production in 1913, had been a part of Sunoco's refining system since 1968.