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54-653: The New Freedom Theatre was founded in 1966 by John E. Allen Jr while working as a supervisor at the Sun Oil Company (now known as Sunoco). He left his job in 1973 to run the theatre full-time. At first, the theatre used the facilities of the nearby Temple University and ran out of a storefront in North Philadelphia but was able to move in 1968 to the Edwin Forrest House on North Broad Street with help from Robert E. Leslie Sr. The building

108-478: A joint venture with The Carlyle Group , allowing for the continuation of operations at the Philadelphia refinery, and temporarily saving over 800 jobs. However, on January 22, 2018, the joint venture, named Philadelphia Energy Solutions, filed for bankruptcy . The bankruptcy announcement was followed by a damaging fire on June 21, 2019, which occurred at the 30,000 bpcd alkylation unit . The explosion of

162-573: 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

216-491: 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

270-541: A 50 percent ownership joint venture with Energy Transfer on the J.C. Nolan diesel fuel pipeline that connects west Texas to the Gulf Coast. On January 18, 2019, Sunoco LP announced the execution of a definitive asset purchase agreement with Attis Industries, Inc. for the sale of Sunoco LP's ethanol plant, including the grain malting operation in Fulton, New York. In 2021, the company expanded its midstream footprint with

324-491: A billion barrels (160,000,000 m ) before the operation was nationalized in 1975. In 1956, Sunoco introduced "Custom–Blended" fuel pumps, an innovation that allowed customers of Sunoco service stations to choose from several octane ratings through a single pump. Sunoco stations offered as many as eight grades of "Custom–Blended" fuels from its "Dial A Grade/Blend Selector" pumps ranging from subregular Sunoco 190 to Sunoco 260 and super-premium grade of 102 octane. The Sunoco 260

378-521: A convenience store and wholesale distributor operator, was purchased by Sunoco LP in October 2016, adding an additional 90 million gallons of fuel to its distribution business. Sunoco diversified its portfolio in August 2016 with the acquisition of Emerge Energy Services LP, entering into the business of processing transmix fuels. In April 2017, Sunoco introduced at all of its stations Sunoco UltraTech,

432-667: A cracked pipe. Sunoco claimed their systems did not detect the leak; the leak was reported by a hiker in the Wildlife Refuge. Afterwards, the company installed advanced leak detection systems while removing the defective joints on this and associated pipelines. In 1993, Sunoco became the first Fortune 500 company to endorse the CERES principles ( Coalition for Environmentally Responsible Economies ). The 10–point conduct code includes public reporting of environmental record. On April 4, 1991, Pennsylvania U.S. Senator H. John Heinz

486-502: A high-detergent fuel blend that met Top Tier standards. Sunoco UltraTech contains the same detergent level as the fuel Sunoco makes for NASCAR . In January 2018, the company sold 1,030 retail stores to 7-Eleven and agreed to supply 2.2 billion gallons of fuel to 7–Eleven convenience stores annually for 15 years. This included Sunoco's contract to the service plazas along the Pennsylvania Turnpike . Sunoco LP announced

540-570: A long-term take or pay fuel supply agreement with 7-Eleven to generate consistent earnings and cash flows. Joseph Kim is the current Chief Executive Officer. As of 2024, the company distributes over 8 billion gallons of fuel across more than 40 U.S. states and territories, making it one of the largest independent fuel distributors in the United States. The partnership was known as Sun Company, Inc. from 1886 to 1920 and 1976 to 1998, and as Sun Oil Co. from 1920 to 1976. (The Sunoco name

594-477: A pro-rated share of the MLP's depreciation on their own tax forms to reduce liability . This means that all items on an MLP's income statement flow through to the investors who pay taxes on their individual portion at their individual income tax rates . As depreciation typically exceeds income , the majority of an investor’s distribution serves to reduce the cost basis of the investment , which reduces

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648-658: A subsidiary of Marathon Petroleum , sold 193 convenience stores to Sunoco. It also acquired many service stations from Coastal Petroleum. In 2004, Sunoco replaced the ConocoPhillips ' 76 brand as the Official Fuel of NASCAR . After ConocoPhillips abandoned the marketing of the Mobil brand name in the Washington, D.C. area, Sunoco purchased these rights, converted Maryland and Virginia Mobil stations to

702-475: A type of limited partnership that conducts its operations through subsidiaries and are not always publicly traded. Most PTPs are organized as MLPs, but a PTP may be organized as a limited liability company that elects to be taxed as a partnership. In 1981, Apache Corporation formed the United States ' first MLP, Apache Petroleum Company (APC). Apache’s success drew other oil and gas companies to

756-526: A variety of social service organizations. After the death of co-founder and artistic director John E. Allen, Jr., the theatre's board of directors appointed Walter Dallas, former head of Philadelphia's University of the Arts theatre program. Dallas made the theatre an Equity house and created links with theatre professionals across the country to bring prominence to the New Freedom Theatre. Under

810-592: A wholesale motor fuel distribution business serving the northeast United States. In 2015, Aloha Petroleum, Ltd. acquired stores including a Subway in Hawaii. In June 2016, Sunoco LP purchased Valentine Convenience stores, consisting of 18 locations selling more than 20 million gallons of fuel, as well as Texas–based Kolkhorst Petroleum, Inc. Kolkhorst operated 14 convenience stores under the Rattler's brand and distributed more than 46 million gallons of fuel. Denny Oil,

864-750: Is Sandra Norris Haughton. She is known as a successful professional in evaluating and implementing new strategies for cultural institutions in distress and developed transformational strategies to redefine and make them viable. New Freedom Theatre offers educational programs for all age groups including elementary, middle school, high school, and adults. Educational program participants study traditional and contemporary performance skills and theory, theatre techniques, writing and aspects of technical production. 65% of Philadelphia school children finish high school while 98% of Freedom Theatre students do, and 55% of Philadelphia high school graduates move on to higher education while 85% of Freedom theatre students do. Alumni of

918-619: Is a condensation of SUN Oil COmpany.) 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 fuel 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 and became active in

972-597: Is surrounded by other historical sites including the Blue Horizon boxing venue , located on the same block as the theatre, which dons a mural of Muhammed Ali , Joe Frazier , George Foreman , and Larry Holmes on its wall facing the theatre. Across Master Street sits the Great Harvest Baptist Church , built in 1823. North of the theatre is the Leon H. Sullivan Human Services Center, which houses

1026-582: The DX brand in several midwestern states, and included several refineries. Its Tulsa refinery was operated by Sun until its sale in June 2009 to Holly Corporation of Dallas. This move expanded Sun's marketing area into the mid–continent region. Sun Oil continued marketing its petroleum products under both the Sunoco and DX brands through the 1970s and into the 1980s. In the late 1980s, Sun began rebranding DX stations in

1080-646: The United States , a master limited partnership ( MLP ) or publicly traded partnership ( PTP ) is a publicly traded entity taxed as a partnership . It combines the tax benefits of a partnership with the liquidity of publicly traded securities . To obtain the tax benefits of a pass through , MLPs must generate at least 90% or more of their income from qualifying sources such as from production , processing , storage, and transportation of depletable natural resources and minerals . In addition, real property rents also qualify. The "MLP" and "PTP" terms are commonly used interchangeably, but MLPs are technically

1134-410: The economics . The general partner owes no fiduciary duty to the limited partners ; however, many MLPs have incentive distribution rights , which are designed to align the interests of all parties . MLPs pay their investors through quarterly required distributions , the amount of which is stated in the partnership agreement , or contract , between the limited partners (the investors) and

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1188-410: The general partner (the managers). The distribution paid by MLPs is equivalent to the dividend paid by C corporations . In the partnership agreement , the distribution is typically defined as all available cash flow , less a reserve which is determined by the general partner . Typically, the higher the quarterly distributions paid to limited partners , the higher the management fee paid to

1242-581: The general partner . This provides the general partner with an incentive to maximize distributions through pursuing income-producing acquisitions and organic growth projects. In addition to the traditional governance committees , an MLP often has a conflicts committee composed of two or more independent directors . This committee reviews specific matters as authorized by the board of directors that may involve conflicts of interest . Because MLPs are not subject to corporate taxation , they act as pass-through entities . Limited partners may also record

1296-431: The taxes owed in the current year. Instead of a Form 1099 , MLP investors receive a Schedule K-1 tax form . As a consequence of their pass-through status , holding MLPs in tax-exempt accounts may generate Unrelated Business Income Tax (UBIT) . To encourage tax-exempt investors , some MLPs set up C corporation holding companies of limited partner which can issue common equity . Energy MLPs Because of

1350-505: The transportation , processing, storage, and production of natural resources and minerals . In the decades since the IRS has issued Private Letter Rulings which further clarify and define which activities generate qualifying income and which do not. Like all limited partnerships , MLPs have two classes of ownership : the general partner(s) which make the decisions, and the limited partners which contribute funds and participate in

1404-590: The MLP structure. Real estate companies soon followed, and by the mid-1980s, MLPs became so popular that they were adopted in a variety of industries, such as restaurants , hotels and cable TV . Even the Boston Celtics basketball team became an MLP. Section 7704 of the Revenue Act of 1987 limited which businesses could be MLPs, delineating that an MLP must earn at least 90% of its gross income from qualifying sources, which were strictly defined as

1458-651: The Marcus Hook facility. The Marcus Hook facility, founded in 1902 and covering 781 acres, was dedicated exclusively to the processing of light sweet crude oil ; this processing focus combined with volatility in crude oil prices are considered contributing factors to both this refinery's closure and Sunoco's exit from the refinery business. In 2012, Sunoco demolished its Eagle Point refinery complex in West Deptford Township, New Jersey , which had been idle since 2010. In September 2012, Sunoco formed

1512-646: The Midwest to the Sunoco brand, but by the early 1990s, they pulled out of virtually all areas in the southeastern U.S. and west of the Mississippi, resulting in the closing and rebranding of service stations and jobbers to other brands in those areas, notably Sinclair in Oklahoma and Kerr-McGee in Arkansas. With increased diversification, Sun Oil Company was renamed Sun Company in 1976. In 1980, Sun acquired

1566-736: The Permian Basin. The joint venture now operates more than 5,000 miles of crude oil and water gathering pipelines along with crude oil storage capacity of over 11 million barrels. Energy Transfer holds a 67.5% interest in the joint venture, with Sunoco LP holding the remaining 32.5% interest. In August 2024, the company acquired a liquid fuels terminal in Portland, Maine. As of 2024, Sunoco still operates 76 retail locations, all of which are located in New Jersey and Hawaii (branded as Aloha Petroleum, Ltd. ). Sunoco has exclusive deals as

1620-1088: The Sunoco brand, bringing the A–Plus convenience store with them – prior to this, these stations had convenience stores under the Circle K or On the Run brands. In September 2009, Sunoco sold its retail heating oil and propane distribution business to Superior Plus for $ 82.5 million in cash. In Canada, the Sunoco brand was licensed for the Ontario retail fuel station operations of Suncor Energy until 2010. Following Suncor's acquisition of Petro-Canada , all Canadian Sunoco outlets were converted to Petro–Canada branding, except for one location in Port Colborne, Ontario . In December 2010, Sunoco sold its refinery in Toledo, Ohio , to PBF Energy, Inc. for $ 400 million. Effective September 6, 2011, Sunoco announced that it would exit

1674-473: The U.S. oil and gas properties of Texas Pacific Oil Company, Inc. , a subsidiary of The Seagram Company Ltd , for U.S.$ 2.3 billion – the second largest acquisition in U.S. history to that date. Through the 1980s, Sun developed oil interests in the North Sea and offshore China and expanded its holdings in both oil and coal with additional U.S. business acquisitions. In 1983, Sun Oil launched Sunoco ULTRA 94,

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1728-484: The acquisition of NuStar Energy LP for $ 7.3 billion. As reported by J.P. Morgan analysts, the acquisition “represented a transformative shift in strategy to a more diversified and vertically integrated business.” Assets added in the acquisition included a network of approximately 9,500 miles of pipeline and 63 terminals. In July 2024, Sunoco LP announced the formation of a joint venture with Energy Transfer to combine their crude oil and produced water-gathering assets in

1782-611: The alkylation unit triggered a massive fireball and caused nearby homes to shake. A few days later, on June 26 the refinery complex announced it would cease operations and shut down. In 2014, Sunoco was one of 50 companies sued by Pennsylvania, which alleged that the companies polluted waters with MTBE , a fuel additive. In 2000, Sunoco leaked 190,000 gallons of oil into the John Heinz National Wildlife Refuge at Tinicum in Pennsylvania through

1836-593: The combined retail and marketing assets of Sunoco and Susser Holdings to Sunoco LP. In Texas, Sunoco replaced Valero at the Stripes locations; Stripes and A–Plus remained separate brands. Also in 2014, Sunoco LP acquired Aloha Petroleum, Ltd. , a retail and wholesale fuel business with six terminals in Hawaii . Additionally, Sunoco LP purchased eight Pico convenience stores in south central Texas. In December 2015, Sunoco LP completed its acquisition of Alta East, Inc.,

1890-682: The company completed the acquisition of 16 refined product terminals located across the East Coast and Midwest from Zenith Energy. In January 2024, Sunoco announced the sale of 204 convenience stores in New Mexico, Oklahoma, and West Texas to 7-Eleven for $ 1.0 billion. On March 13, 2024, Sunoco LP announced its acquisition of Zenith Energy Netherlands Amsterdam B.V., which included liquid fuels terminals in Amsterdam, Netherlands, and Bantry Bay, Ireland. On May 3, 2024, Sunoco LP closed on

1944-748: The completion of the acquisition of the refined terminaling business from American Midstream Partners, LP on December 20, 2018. On April 2, 2018, Sunoco announced the completion of the conversion of its 207 retail sites located in central west Texas, Oklahoma, and New Mexico markets to a single commission agent, Cal's Convenience, Inc. That month also saw the acquisition of Superior Plus Energy Services, adding three terminals and approximately 200 million gallons to Sunoco LP's wholesale fuels business. Additional 2018 acquisitions included Sandford Energy, LLC. in August, BRENCO Marketing Corp. in October, and Schmitt Sales, Inc. in December. In 2019, Sunoco LP announced

1998-752: The construction of a terminal in Brownsville, Texas along with the purchase of Cato Incorporated, with a terminal in Maryland, and NuStar Energy LP, with eight terminals in Illinois, Maryland, Florida, New Jersey, and Virginia. In 2022, Sunoco acquired Gladieux Capital Partners, LLC, a transmix plant in Indiana that included a wholesale fuel business, and Peerless Oil & Chemicals, a terminal and wholesale fuel business in Puerto Rico. In May 2023,

2052-449: The crude oil refining business and seek to sell its Philadelphia and Marcus Hook, Pennsylvania refineries by mid-2012. The company has said that its cost for exiting the refining business could be as high as $ 2.7 billion. According to one report, the company had lost some $ 800 million on refining operations since 2009; an earlier report provided a figure of $ 772 million. On December 1, 2011, Sunoco announced it would accelerate closure of

2106-581: The fuel supplier at the travel plazas along the Ohio Turnpike , Pennsylvania Turnpike , New Jersey Turnpike , Garden State Parkway , Atlantic City Expressway , Palisades Parkway , and Delaware Turnpike . Sunoco also operates some of the fuel filling stations on the New York Thruway , as well as the two service areas – Chesapeake House, and Maryland House – along Interstate 95 in Maryland . Master limited partnership In

2160-492: The gathering, processing, compression, transportation and storage of oil and gas include Buckeye Partners , DCP Midstream , Energy Transfer Partners , Enterprise Products Partners , Magellan Midstream Partners , NuStar Energy , Plains All American Pipeline , TC PipeLines , and TransMontaigne Partners . A number of MLPs are dedicated to marine transportation, oil and gas exploration, oilfield services, and downstream refining/marketing/distribution services. MLPs also operate in

2214-489: The installation of more streetlights. The facility now houses small meeting & rehearsal rooms, a black box theatre, a private reception lobby, and 299-seat proscenium John E. Allen, Jr. Theatre. On July 10, 1990, The New Freedom Theatre was acquired by the Pennsylvania Historical and Museum Commission , which provided renovations for the New Freedom Theatre for a nominal sum. The New Freedom theatre

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2268-568: The leadership of Walter Dallas, the company completed a $ 10-million capital fund-raising drive which created the 299-seat John E. Allen, Jr. theatre, which opened for the 1996–1997 season (American Theatre 1995 Graham). The current artistic director of The New Freedom Theatre is Rajendra Ramoon Maharaj . He is an Indo-Caribbean American artist, educator and activist. His credits at the New Freedom Theatre include The Ballad of Trayvon Martin, Jamaica, Don't Bother Me, I Can't Cope, The Colored Museum, and Walk Through Time. The executive producing director

2322-400: The market's highest octane unleaded fuel. Then in 1988, Sun undertook a restructuring to segregate its domestic oil and fuel exploration and production business and focus the company on its refining and marketing business. This led to the acquisition of Atlantic Refining and Marketing (and, in effect, that company's convenience store chain, A–Plus ), including its Philadelphia refinery which

2376-453: The other Sarnia, Ontario – in joint ventures. In 1998, Sun Company, Inc. became Sunoco, Inc. In 2011 the Toledo facility was sold to PBF Energy, Inc. In 1998, Sun acquired the chemical business of Allied Signal , including a phenol plant. The business was renamed as "Sunoco Chemicals, Inc." In 2011, the plant was acquired by Honeywell for $ 85 million. In 2003, Speedway LLC , then

2430-675: The 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, Inc. In 1902, the Sun Oil Refining Company was chartered in Texas, as it turned its interest to the new Spindletop field in Texas . Joseph Newton Pew's nephew, J. Edgar Pew, was able to buy the storage and transportation assets of Lone Star and Crescent Oil Company at

2484-487: The program due to low enrollment, and to make the theatre stronger and more sustainable. Sunoco Sunoco LP / s ə ˈ n oʊ k oʊ / is an American master limited partnership organized under Delaware state laws and headquartered in Dallas, Texas . Dating back to 1886, the company has transitioned from a vertically integrated energy company to a distributor of fuels and operator of midstream services. It

2538-415: The propane, coal and biomass industries. Financial MLPs A number of companies in the finance, investment and real estate industries operate as MLPs, such as AllianceBernstein , Apollo Global Management , The Blackstone Group , Brookfield Property Partners , The Carlyle Group , Icahn Enterprises , and Och-Ziff Capital Management . Other MLPs Under the rents from real property provision of

2592-447: The stringent provisions on MLPs and the nature of the quarterly required distributions, most MLPs operate oil, natural gas, or refined product pipeline businesses, which tend to generate more predictable income streams. However, many other assets can be operated in an MLP including processing plants, natural resource storage facilities, rail terminals, marine transportation vessels, and refineries, among others. Examples of MLPs involved in

2646-518: The theatre include: Leslie Odom , Erika Alexander , Samm-Art Williams , and Wanya Morris . In 2016, there was backlash when a group of instructors at the New Freedom Theatre Performing Arts Training School were fired after years of service, three of which were long-time faculty members, including two of Robert E. Leslie's daughters (Gail Leslie, Diane Leslie). Leadership says they were revamping

2700-520: Was advertised as "The Highest Octane Fuel You Can Buy!" and very popular with operators of V8 –powered muscle cars of the 1960s. In 1967, Sun established its Great Canadian Oil Sands Limited facility in northern Alberta, Canada to access the estimated 300 billion barrels (48 km ) of extractable oil in the Athabasca oil sands . In 1968, Sun Oil merged with Tulsa, Oklahoma –based Sunray DX Oil Company , which refined and marketed fuel under

2754-520: Was initially owned by a brewer called William Gaul . In 1853 Edwin Forrest , a prolific tragedian, purchased the home. Upon his death in 1872, Edwin left his estate to retired actors. In the early days of the theatre, crime such as prostitution and drug dealing that occurred within the theatre's neighborhood. To protect the theatre students, Allen would ask criminals to leave the area before they arrived for classes. Crime has since decreased with time and

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2808-1122: Was killed when his airplane collided with a Sun Company helicopter in what is known as the Merion air disaster . Falling debris killed two children at the Merion Elementary School in the Lower Merion School District . The National Transportation Safety Board determined that the probable cause of the accident included poor judgment and errors on the behalf of both pilots. In 2012, Dallas –based energy company Energy Transfer Partners purchased Sunoco. Sunoco would subsequently move its corporate headquarters to Dallas in 2016. On August 29, 2014, Energy Transfer Partners acquired  Susser Holdings Corporation , owner of Stripes Convenience Stores and general partner of Susser Petroleum Partners LP (SUSP). On October 27, 2014, Susser Petroleum Partners LP changed its name to Sunoco LP and its ticker symbol from SUSP to SUN.  From 2014 to 2016, Energy Transfer Partners sold

2862-650: Was later merged with the former Gulf Oil refinery next door that Sunoco acquired from Chevron . By the 1990s, Sun had departed the international exploration business and was fully dedicated to its branded products and services. In 1994, Sunoco acquired the Philadelphia Chevron Oil refinery consolidating operations with its own adjacent which it had acquired with Atlantic. Sun sold its remaining interest in Canada's Suncor Energy in 1995 but markets products from two refineries – one in Toledo, Ohio , and

2916-411: Was previously engaged in oil , natural gas exploration and production , refining , chemical manufacturing , and retail fuel sales, but divested these businesses. Its current operational focus dates back to 2018 when it divested the non–core convenience store operations to 7-Eleven for $ 3.2 billion, which allowed for Sunoco LP to improve its financial position. The transaction also provided

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