Sunoco
From Wikipedia, the free encyclopedia
| Sunoco Inc | |
 |
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| Type | Public (NYSE: SUN) |
|---|---|
| Founded | 1886 (Pittsburgh, Pennsylvania, USA) |
| Headquarters | Philadelphia, Pennsylvania, USA |
| Key people | John Drosdick, CEO & Chairman |
| Industry | Oil & Gas operations |
| Products | Petrochemical |
| Revenue |  $2.508 billion USD (2004) |
| Employees | 14,900 |
| Website | www.sunocoinc.com |
Sunoco (NYSE: SUN) is an American petroleum and petrochemical manufacturer headquartered in Philadelphia, Pennsylvania, formerly known as Sun Company Inc..
In Canada, Sunoco is operated by Suncor Energy, a separate Canadian entity.
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 (see The Pew Charitable Trusts) 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.
With a growing portfolio of oil fields and refineries in hand, Sun opened its first service station in Ardmore, Pennsylvania in 1920. The name changed back to Sun Oil Company in 1922 and, in 1925, Sun became a publicly traded company on the New York Stock Exchange. Following World War II, Sun expanded internationally. Its first Canadian refinery was built in 1953 in Sarnia, Ontario, home to a burgeoning new petrochemical industry. Sun established a facility at Venezuela's Lake Maracaibo in 1957, which produced over a billion barrels (160,000,000 m³) before the operation was nationalized in 1975.
Sun is perhaps best known to consumers for its "custom blending" pumps, an innovation that, in 1956, allowed customers of Sunoco service stations to choose from several octane grades through a single pump. Sunoco stations offered as many as eight grades of "Custom Blended" gasolines from its "Dial A Grade" pumps ranging from subregular Sunoco 190 to Sunoco 260, the latter a super-premium grade of 102 octane that was advertised as the "highest octane pump gas" and very popular with the 400 horsepower (298 kW) musclecars of that era.
In 1967, Sun established its Great Canadian Oil Sands Limited facility in northern Alberta, Canada, to help unlock the estimated 300 billion barrels (48 km³) of recoverable oil in the Athabasca oil sands.
In 1968, Sun Oil merged with Tulsa, Okla.-based Sunray DX Oil Company, which refined and marketed gasoline under the DX brand in several midwestern states, and included several refineries including one in Tulsa that is still operated by Sun to the present day. This move expanded Sun's marketing area into the mid-continent region.
Sun Oil continued marketing its petroleum products under both the Sunoco and DX brands through the 1970s and into the 1980s. In the late 1980s, Sun began rebranding DX stations in the Midwest to the Sunoco brand and even introduced the high-octane Sunoco ULTRA 94 gasoline to stations in that region, but in the early 1990s pulled out virtually all areas west of the Mississippi, resulting in the closing and rebranding of service stations and jobbers to other brands in those areas, notably Sinclair in Oklahoma.
With increased diversification, Sun Oil Company was renamed Sun Company in 1976. In 1980, Sun acquired the U.S. oil and gas properties of Texas Pacific Oil Company, Inc., a subsidiary of The Seagram Company, Ltd., for $2.3 billion -- the second largest acquisition in U.S. history to that date.
Through the 1980s, Sun developed oil interests in the North Sea and offshore China and expanded its holdings in both oil and coal with additional U.S. business acquisitions. In 1983, consumers saw the arrival of Sunoco ULTRA 94, the market's highest octane unleaded gasoline. Then in 1988, Sun's undertook a major restructuring to segregate its domestic oil and gas exploration and production business and the focus the company on its refining and marketing business. This led to the acquisition of Atlantic Refining and Marketing (which, in effect acquired that company's convenience store chain, A-Plus), including its Philadelphia refinery which was later merged with the former Gulf Oil refinery right next door that Sunoco acquired from Chevron.
By the 1990s, Sun had departed the international exploration business and was fully dedicated to its branded products and services. The "Sunoco" became central to the company in 1998 when Sun Company, Inc. became Sunoco, Inc.
In 2004, Sunoco replaced ConocoPhillips' 76 brand as the official fuel of NASCAR.
After ConocoPhillips abandoned Northeastern marketing of the Mobil brand name in the Washington area, Sunoco purchased these rights, and has since been converting Maryland and Virginia Mobil stations to the Sunoco brand, bringing the A-Plus convenience store with them (These stations before had convenience stores under the Circle K or On the Run brand). Most of the conversions done so far have been in Virginia.
[edit] Facts
- Sunoco is the only major gasoline retailer to sell four grades of gasoline in the U.S.: regular (regular 87 octane), plus (89), Premium (91) and ULTRA 94 (Sun is currently in the process of removing 94 from the stations and making it ULTRA 93 instead). Sunoco also once sold Economy unleaded, an 86 octane slightly cheaper than regular, in all of its markets until the mid-1990s when it was withdrawn from Pennsylvania and a handful of other states, and was phased out altogether in 2003.
- Sunoco is one of the few oil companies that currently uses ethanol systemwide, which is currently being phased in at other oil companies, to comply with federal laws.
- Sunoco is the Official fuel of NASCAR
- In addition to their sponsorship deal with NASCAR, Sunoco also has exclusive deals as the gasoline supplier at the travel plazas along the Pennsylvania, New Jersey and Ohio Turnpikes. (Although Valero will soon take over operations along the Ohio Turnpike.) In addition, Sunoco also owns & operates a station with an A-Plus convenience store at Pittsburgh International Airport, as Sunoco has a very large market share in Pittsburgh.
[edit] References to Sunoco in popular culture
- In the 1995 movie Toy Story and in the 2006 movie Cars, Sunoco and Sinclair were parodied as a fuel company called "Dinoco". The Dinoco station plays a small role in Toy Story, as the location where Buzz Lightyear and Woody are separated from their owner, Andy. In Cars, Dinoco was a coveted stock car sponsor and current sponsor of Strip "The King" Weathers in the Piston Cup. Dinoco has a similar logo to Sinclair's brontosaurus and name to that of Sunoco.
[edit] External links
| Philadelphia-based Corporations (Within the Delaware Valley) |
|---|
| Philadelphia-based Fortune 500 Corporations (by size): Sunoco | Comcast | CIGNA | Aramark | Rohm and Haas Company | Crown Holdings Incorporated | Lincoln National Corporation |
| Philadelphia-based Fortune 1000 Corporations (by size): Companies listed above, plus Sovereign Bancorp | Pep Boys | FMC Corporation |
| Delaware Valley-based Fortune 1000 Corporations (by size): Companies listed above, plus AmerisourceBergen | DuPont Company | Campbell Soup | Toll Brothers | Unisys | Jones Apparel Group | UGI Corporation | Ikon Office Solutions | Universal Health Services | SunGard Data Systems | Teleflex | Airgas | Vishay Intertechnology | Charming Shoppes | Commerce Bancorp | Hercules Inc. | Genesis HealthCare | Ametek |
| Philadelphia-based and Delaware Valley-based non-public or externally owned corporations (by size): GlaxoSmithKline (US Operations) | Burlington Coat Factory | Forman Mills |
