![Sunoco buys terminals from Zenith Energy for $110 million.](/sites/default/files/styles/hart_news_article_image_640/public/image/2023/05/sunoco-lp-buys-zenith-energy-refined-product-terminals.jpg?itok=M4oHuX0y)
(Source: Shutterstock.com)
Sunoco LP completed the acquisition of 16 refined product terminals located across the East Coast and Midwest on May 1.
Sunoco purchased the terminals from Zenith Energy for $110 million. Sunoco expects the acquisition to be accretive to unitholders in the first year of ownership, the company said in a May 2 press release.
Sidley Austin LLP represented Sunoco LP in the acquisition.
Recommended Reading
MOGAS Wins Multimillion Contract for Aramco-backed S-Oil
2024-07-02 - MOGAS said the contract is part of S-Oil backer Aramco's largest investment in South Korea.
Oceaneering Awarded Multiple GoM Vessel Services Contracts
2024-07-02 - Oceaneering also secured two separate pricing agreements that include the use of new technologies from its integrated, customizable IMR service.
The OGInterview: BPX E-fracs Push ‘Values Up, Emissions Down,’ CEO Says
2024-07-02 - BPX Energy CEO Kyle Koontz discusses the company’s role as the “nimble entrepreneurial” arm of supermajor BP in the Permian Basin and Haynesville and Eagle Ford shales.
E&P Highlights: July 1, 2024
2024-07-01 - Here’s a roundup of the latest E&P headlines, including the Israeli government approving increased gas export at the Leviathan Field and Equinor winning a FEED contract for the all-electric Fram Sør Field.
Laredo Oil Subsidiary Hell Creek Begins Drilling in Montana’s Midfork
2024-06-28 - Laredo Oil expects the well to be production-ready by late July.