Holly snags Sunoco refinery

04/16/2009 | Wall Street Journal, The

Observers say Holly Corp.'s $65 million purchase of Sunoco's refinery in Tulsa, Okla., was a bargain brought about by the decreasing value of refinery assets in the U.S. Holly said it expects to spend at least $150 million upgrading the plant, which produces 85,000 barrels per day, to meet environmental codes.

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