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Sunoco
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Sunoco
Fuel Brand
History
The following section is an excerpt from Wikipedia's Sunoco page on 21 May 2021, text available via the Creative Commons Attribution-ShareAlike 3.0 Unported License.
Sunoco LP is an American master limited partnership organized in Delaware and headquartered in Dallas, Texas, that is a wholesale distributor of motor fuels. It distributes fuel to more than 7,300 Sunoco-branded gas stations, almost all of which are owned and operated by third parties. The partnership is controlled by Energy Transfer Partners.
The partnership was formerly known as Sun Company Inc. (1886–1920 and 1976–1998) and Sun Oil Co. (1920–1976). It was formerly engaged in oil refinery, the chemical industry, and retail sales, but divested these businesses.
The partnership 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.
In 1902, the Sun Oil Refining Company was chartered in Texas, as it turned its interest to the new Spindletop field in Texas. Joseph Pew's nephew, J. Edgar Pew, was able to buy the storage and transportation assets of Lone Star and Crescent Oil Company at a receivership auction. Spindletop oil was then shipped to the company's Marcus Hook, Pennsylvania, refinery.
Pew's sons, J. Howard Pew and Joseph N. Pew Jr. would take over the company after their father's death.
With a growing portfolio of oil fields and refineries, Sun opened its first service station in Ardmore, Pennsylvania in 1920. In 1922, it changed its name back to Sun Oil Company and, in 1925, it became a public company via an initial public offering on the New York Stock Exchange. Sunoco ranked 39th among United States corporations in the value of World War II production contracts. Sun expanded internationally following the war. 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.
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