Petrochemical products manufacturer Sunoco Inc has completed the sale of its 85,000 barrel-per-day refinery in Tulsa, Okla., to Holly Corporation for US$65 mln. Under the terms of the agreement, Hollyy Corporation agrees to invest in several necessary upgrades, including installation of a distillate treating system and sulfur recovery unit, to ensure the long-term viability and environmental compliance of the refinery.
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