United Refining Owner Thinking About Buying Sunoco Refinery in Philly

United Refining Owner Thinking About Buying Sunoco Refinery in Philly

The owner of United Refining in Warren says he is thinking about bidding on Sunoco's refinery in South Philadelphia.

United Refining Energy Corp. chairman and billionaire John Catsimatidis tells The Philadelphia Inquirer his company is deciding this month if it will make an offer for the refinery, which Sunoco plans to shut down on July 1 if they don't find a buyer.

He is the first potential buyer to publicly acknowledge an interest in the refinery, which is the largest on the East Coast. It is one of three in the Philadelphia area threatened with permanent closure because their owners say they are unprofitable.

Posted by Anne Holliday

In addition to the Philadelphia facility, Sunoco already shut down its Marcus Hook refinery. ConocoPhillips has shut down operations at its refinery in Trainer.