Toledo Refining Company LLC, a subsidiary of PBF Holding Company LLC, has officially taken over operations as the new owner of the Sunoco refinery in Toledo, Ohio as of March 1.
The US$ 400 million purchase agreement was completed in December and includes a US$ 125 million participation payment based on the future profitability of the 170 000 bpd refinery.
Sunoco’s existing retail marketing and logistics operations in Ohio and the surrounding states are not expected to be impacted by the sale. The company continues to supply refined products to its branded distributors via a long term off take agreement with PBF.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/02032011/pbf_takes_over_operations_of_toledo_refinery/