Sunoco to sell Midwest refinery to oil industry veteran O'Malley

摘要

Sunoco says it is selling its 170,000-b/d refinery in Toledo, Ohio, to PBF Energy. The price of the plant is $400 million - consisting of $200 million in cash and a $200 million two-year note - but includes a participation payment of up to $125 million, based on the future profitability of the refinery.rnGreenwich, Conn.-based PBF will also buy the plant's crude oil and refined product inventory at market prices when the deal closes. Pending regulatory approval and other conditions, the deal is expected to close early in the first quarter of 2011.