Two US Companies Organized JV to Run Refinery in Cooperation
CHEMMONITOR.COM – Two US-based companies, Philadelphia-headquartered petroleum and petrochemical producer Sunoco, Inc. and an asset management firm with headquarters in Washington, D.C. The Carlyle Group, set up a JV. The company will run the refinery, which is located in Philadelphia. The refinery is able to convert about 330,100 barrels of crude oil into diverse refined products daily.
The asset management company will possess a controlling block of shares.
The newly formed JV will provide the companies with extra business opportunities and create new vacancies.