PHILADELPHIA, Feb. 3 /PRNewswire-FirstCall/ -- Sunoco, Inc. (NYSE: SUN)
today announced the promotion of Joel H. Maness to Executive Vice President
and Michael J. Hennigan and Vincent J. Kelley to Senior Vice President.
Sunoco Chairman and Chief Executive Officer John G. Drosdick said, "Joel, Mike
and Vince are being promoted to recognize the significant contributions that
each of them has made to the company's success and to expand their leadership
roles for future growth." Hennigan and Kelley will report to Maness.
(Logo: http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006 )
Joel H. Maness, 55, is appointed Executive Vice President of Refining and
Supply. In that role he will continue to lead the Refining and Supply Group
and focus on his added responsibility as Chairman of Sunoco's Operating
Committee. Maness joined Sunoco in 2000 as Senior Vice President in charge of
Northeast Refining and Chemicals. Prior to that he spent 27 years at Mobil
where he held a variety of assignments in health, environmental & safety,
refining, marketing, supply, and finance. He holds a bachelor's degree in
Chemical Engineering from Texas A&M University.
Michael J. Hennigan, 46, is appointed Senior Vice President, Supply,
Trading, Sales and Transportation. Hennigan will be responsible for all
commercial supply and trading activities involving crude and products as well
as wholesale marketing and transportation operations. He previously held the
position of Vice President, Product Trading, Sales and Supply overseeing the
Products organization. Hennigan has nearly 25 years of experience with Sunoco
and has held a number of positions in engineering, operations, planning and
economics, financial analysis and strategic planning. He joined Sunoco in
1981 and holds a bachelor's degree in Chemical Engineering from Drexel
University.
Vincent J. Kelley, 46, is appointed Senior Vice President, Refining. He
will be responsible for the management of the Philadelphia, Marcus Hook, Eagle
Point, Toledo and Tulsa refineries with over 900,000 barrels a day of crude
oil capacity. Kelley joined Sunoco in September 2000 as manager of the
Philadelphia Refinery and was named Vice President, Northeast Refining in
March 2001. Prior to joining Sunoco, Kelley was with ExxonMobil where he held
a number of operations, maintenance and technical positions and was
responsible for global environmental remediation projects. He holds both a
Bachelor's Degree in Mechanical Engineering and a Master's Degree in
Engineering Management from Drexel University.
Sunoco, Inc., headquartered in Philadelphia, PA, is a leading manufacturer
and marketer of petroleum and petrochemical products. With 900,000 barrels
per day of refining capacity, approximately 4,800 retail sites selling
gasoline and convenience items, approximately 4,500 miles of crude oil and
refined product owned and operated pipelines and 38 product terminals, Sunoco
is one of the largest independent refiner-marketers in the United States.
Sunoco is a significant manufacturer of petrochemicals with annual sales of
approximately five billion pounds, largely chemical intermediates used to make
fibers, plastics, film and resins. Utilizing a unique, patented technology,
Sunoco also has the capacity to manufacture over 2.5 million tons annually of
high-quality metallurgical-grade coke for use in the steel industry.
Those statements made in this release that are not historical facts are
forward-looking statements intended to be covered by the safe harbor
provisions of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Although Sunoco believes that the
assumptions underlying these statements are reasonable, investors are
cautioned that such forward-looking statements are inherently uncertain and
necessarily involve risks that may affect Sunoco's business prospects and
performance causing actual results to differ materially from those discussed
in the foregoing release. Such risks and uncertainties include, by way of
example and not of limitation: general business and economic conditions;
competitive products and pricing; effects of weather conditions and natural
disasters on the Company's operating facilities and on product supply and
demand; changes in refining, marketing and chemical margins; variation in
petroleum-based commodity prices and availability of crude oil and feedstock
supply or transportation; effects of transportation disruptions; changes in
the price differentials between light-sweet and heavy-sour crude oils;
fluctuations in supply of feedstocks and demand for products manufactured;
changes in product specifications; availability and pricing of oxygenates;
phase-outs or restrictions on the use of MTBE; changes in operating conditions
and costs; changes in the expected level of environmental capital, operating
or remediation expenditures; age of, and changes in the reliability,
efficiency and capacity of, the Company's or a third party's operating
facilities; potential equipment malfunction; potential labor-relations
problems; the legislative and regulatory environment; ability to identify
acquisitions, execute them under favorable terms and integrate them into the
Company's existing businesses; ability to enter into joint ventures and other
similar arrangements under favorable terms; delays and/or costs related to
plant construction, improvements or repairs and the issuance of applicable
permits; nonperformance by or disputes with major customers, suppliers,
dealers, distributors or other business partners; changes in financial markets
impacting pension expense and funding requirements; political and economic
conditions, including the impact of potential terrorist acts and international
hostilities; and changes in the status of, or initiation of new, litigation
and/or arbitration proceedings. These and other applicable risks and
uncertainties have been described more fully in Sunoco's Form 10-Q filed with
the Securities and Exchange Commission on November 3, 2005 and in other
periodic reports filed with the Securities and Exchange Commission. Sunoco
undertakes no obligation to update any forward-looking statements in this
release, whether as a result of new information or future events.
SOURCE Sunoco, Inc.
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Related links:
http://www.SunocoInc.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19981105/PHTH006
PRN Photo Desk, photodesk@prnewswire.com
Company News On-Call:
http://www.prnewswire.com/comp/829144.html
CONTACT:
Jerry Davis (media), +1-215-977-6298 or Terry
Delaney (investors), +1-215-977-6106, both of Sunoco
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