Sunoco

This article is about the U.S. oil company. For the now–unaffilated Canadian oil company, see Suncor Energy.
Not to be confused with Sonoco, a packaging products company.
Sunoco LP
Company typeDelaware–domiciled master limited partnership; controlled by Energy Transfer Partners
NYSE: SUN
IndustryPetroleum industry
Founded2014
HeadquartersDallas, Texas, U.S.
Key people
Products
RevenueIncrease $23.068 billion (2023)
Number of employees
2,389 (2023)
Website
Footnotes / references
[1]
A Sunoco fuel station in Peachtree, North Carolina

Sunoco LP /səˈnoʊkoʊ/ is an American master limited partnership organized under Delaware state laws and headquartered in Dallas, Texas. Dating back to 1886, the company has transitioned from a vertically integrated energy company to a distributor of fuels and operator of midstream services. It was previously engaged in oil, natural gas exploration and production, refining, chemical manufacturing, and retail fuel sales, but divested these businesses.

Its current operational focus dates back to 2018 when it divested the non–core convenience store operations to 7-Eleven for $3.2 billion,[2] which allowed for Sunoco LP to improve its financial position.[3] The transaction also provided a long-term take or pay fuel supply agreement with 7-Eleven to generate consistent earnings and cash flows.[4] Joseph Kim is the current Chief Executive Officer.[5]

As of 2024, the company distributes over 8 billion gallons of fuel[6] across more than 40 U.S. states and territories,[7] making it one of the largest independent fuel distributors in the United States.[8]

The partnership was known as Sun Company, Inc. from 1886 to 1920 and 1976 to 1998, and as Sun Oil Co. from 1920 to 1976. (The Sunoco name is a condensation of SUN Oil COmpany.)

  1. ^ "Sunoco LP 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "7-Eleven completes purchase of 1,030 Sunoco stores after FTC review excludes 59" Dallas Morning News. Retrieved 2024-10-18.
  3. ^ "7-Eleven Gains Stores as Sunoco Changes Its Stripes" CSP Daily News. Retrieved 2023-02-15.
  4. ^ "Fitch Upgrades Sunoco, LP to 'BB'" Fitch Ratings. Retrieved 2024-10-18.
  5. ^ "Kim promoted to Sunoco president, COO; Owens to retire as CEO" Oil & Gas Journal. Retrieved 2024-08-21.
  6. ^ "House of the Rising SUN - Sunoco LP's $7.3 Billion Deal to Acquire NuStar Energy" RBN Energy. Retrieved 2024-09-04.
  7. ^ "Sunoco LP to acquire NuStar Energy in $7.3-billion deal" Oil & Gas Journal. Retrieved 2024-09-04.
  8. ^ "Sunoco to Buy NuStar Energy for $7.3 Billion" Transport Topics. Retrieved 2024-09-04.