Philly’s Sunoco Refinery Will Remain Open and Operating Thanks to New Deal

Sunoco Inc. needed to strike a deal by the end of July to save its Philadelphia refinery and the 850 jobs linked to its fate. Today, the company announced a joint venture with Washington D.C.’s The Carlyle Group that will allow the refinery to continue operation and create an additional 200 jobs as the facility is updated and expanded.

Carlyle will receive $25 million in state grants to support upgrades at the refinery, including construction of a terminal to allow the high-speed unloading of rail cars carrying crude from new oil-shale formations in North Dakota, Colorado, Ohio and Texas. [Inquirer]