Texas Pacific Oil Company
 |
|
| Subsidiary of Energy Transfer Partners | |
| Traded as | : SUN |
| Industry | Oil and gas |
| Founded | 1886 (as Sun Company Inc.) Pittsburgh, Pennsylvania, U.S. |
| Founder |
Joseph Newton Pew Philip Pisano Edward O. Emerson |
| Headquarters | Newtown Square, Pennsylvania, U.S. |
|
Area served
|
Worldwide |
|
Key people
|
Robert W. Owens President and CEO |
| Products |
Petrochemical Petroleum Fuel Lubricants |
| Revenue | US$ 44.58 billion (2011) |
| US$ -1.68 billion (2011) | |
| Total assets | US$ 11.98 billion (2011) |
|
Number of employees
|
10,500 (2011) |
| Website | sunocoinc.com |
Sunoco is an American petroleum and petrochemical manufacturer headquartered in Newtown Square, Pennsylvania, United States, formerly known as Sun Company Inc. (1886–1920 and 1976–1998) and Sun Oil Co. (1920–1976). Sunoco is one of the largest gasoline distribution companies in the United States, with Sunoco brand gasoline being sold in over 4,700 outlets spanning 26 states, just over a third hosting convenience stores. Since 2012, Sunoco has been a wholly owned subsidiary of Energy Transfer Partners, based in Dallas, Texas.
In 2011, it was ranked as the third largest company by revenue in Pennsylvania, after AmerisourceBergen and Comcast. In 2011, the company decided to exit the oil refinery business.
In Canada, the Sunoco brand was licensed for the Ontario retail gas station operations of Suncor Energy until 2010. Following Suncor's acquisition of Petro-Canada, all Canadian Sunoco outlets were converted to Petro-Canada branding.
In 2017, it was announced that 1,110 Sunoco convenience stores would be sold to Seven & I Holdings Co., parent company of 7-Eleven, for $3.3 billion. Also, as a part of the deal, Sunoco also said they would be supplying 2.2 billion gallons of fuel annually for 15 years to 7-Eleven convenience stores.
The integrated oil company now known as Sunoco began as The Peoples Natural Gas Company in Pittsburgh, Pennsylvania. In 1886, its partners – Joseph Newton Pew, Philip Pisano and Edward O. Emerson – decided to expand their gas business with a stake in the new oil discoveries in Ohio and Pennsylvania. Four years later, the growing enterprise became the Sun Oil Company of Ohio. Sun Oil diversified quickly, active in production and distribution of oil as well as processing and marketing refined products. By 1901, the company was incorporated in New Jersey as Sun Company and turned its interest to the new Spindletop field in Texas. Pew's sons, J. Howard Pew and Joseph N. Pew, Jr. would take over the company after their father's death.
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Wikipedia