PBF unit to buy Toledo refinery from Sunoco

By OGJ editors
-- Toledo Refining Co. LLC, a wholly owned subsidiary of PBF Holding Co. LLC, has agreed to buy Sunoco Inc.’s 170,000-b/d refinery in Toledo, Ohio, for about $400 million.

PBF Holding earlier bought two refineries—in Delaware City, Del., and Paulsboro, NJ—from Valero Energy Corp. (OGJ, Oct. 4, 2010, Newsletter).

Sunoco has been trimming operations, last year shutting its 150,000-b/d refinery at Eagle Point, NJ, and selling an 85,000-b/d refinery in Tulsa to a unit of Holly Corp.

It retains refineries in Philadelphia (330,000 b/d) and Marcus Hook (175,000 b/d), Pa. It also has shed polypropylene manufacturing assets.

The Toledo refinery has 60,000 of fluid catalytic cracking, 45,600 b/d of semiregenerative catalytic reforming, and 28,200 of catalytic hydrocracking (for diesel upgrading) capacity.

The transaction will involve about $200 million in cash and a $200 million, 2-year note.

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