Sunoco selling West Tulsa refinery

[stageidea]

Sunoco has agreed to sell the refinery for $65 million to the Holly Corporation

http://www.kjrh.com/content/news/breaking/story/Sunoco-selling-West-Tulsa-refinery/v7u6Sb-IfE-pcwdZd1hIgg.cspx

From the article:
"Under the terms, Holly agrees to invest in several upgrades to ensure environmental compliance at the refinery. In addition, it appears the refinery's 400 positions are safe."

[cannon_fodder]

More in depth story:
http://money.cnn.com/news/newsfeeds/articles/djf500/200904161032DOWJONESDJONLINE000788_FORTUNE5.htm

The buyer took out a $300,000,000 line of credit to purchase the refinery and upgrade it.  A new unit will be added to produce low sulfur diesel.

[patric]

Im of the understanding that the Tulsa Chamber will be issuing their own press release that may be a little different, as in it's not a done deal yet.

[sgrizzle]

Im of the understanding that the Tulsa Chamber will be issuing their own press release that may be a little different, as in it's not a done deal yet.

Why would the chamber be issuing a potentially negative statement? Isn't that like a depressed cheerleader?

[patric]

Why would the chamber be issuing a potentially negative statement? Isn't that like a depressed cheerleader?

Dont know if it could be necessarily negative, but perhaps different details.

[cannon_fodder]

If they have a different message they had better get it out.  All the news wires have run the basics already.  From CNN, to WSJ, to Bloomberg. 

http://online.wsj.com/article/SB123990063086725671.html?mod=googlenews_wsj

I bet it is just some positive spin about how the environmental enhancements will be good for Tulsa.  Welcome a new corporate citizen, etc.  I anticipate no real news.