Sunoco Updates Guidance on Second Quarter Refinery Operations
Sunoco, Inc. (NYSE:SUN) confirmed today that the fluid catalytic cracking unit at its Marcus Hook refinery is expected to return to normal operations by the end of next week after running at reduced rates for the last several weeks due to maintenance work surrounding the unit.
Including other planned and unplanned maintenance downtime experienced earlier in the quarter, Sunoco now expects system-wide crude unit utilization to approximate 80-85% for the second quarter of 2008.
Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer and marketer of petroleum and petrochemical products. With 910,000 barrels per day of refining capacity, nearly 4,700 retail sites selling gasoline and convenience items, approximately 5,500 miles of crude oil and refined product owned and operated pipelines and 38 product terminals, Sunoco is one of the largest independent refiner-marketers in the United States. Sunoco is a significant manufacturer of petrochemicals with annual sales of approximately five billion pounds, largely chemical intermediates used to make fibers, plastics, film and resins. Using a unique, patented technology, Sunoco’s cokemaking facilities in the United States have the capacity to manufacture over 2.5 million tons annually of high-quality metallurgical-grade coke for use in the steel industry. Sunoco also is the operator of, and has an equity interest in, a 1.7 million tons-per-year cokemaking facility in Vitoria, Brazil.