Sunoco chief: N.J. oil refinery may be refitted to produce biofuels

10/7/2009 | Reuters · Philadelphia Inquirer, The

Lynn Elsenhans, Sunoco's CEO and chairman, said the company is indefinitely idling its Eagle Point oil refinery in New Jersey to slash costs amid low refining profits in the U.S. Demand for gasoline and diesel fuel is falling while supplies are piling up, and Sunoco may consider repurposing the plant to generate alternative fuels such as biobutenol, she added. The company entered the biofuels market this year when it spent $8.5 million to acquire a bankrupt ethanol facility in New York.

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Reuters · Philadelphia Inquirer, The

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