Exclusive: Sunoco, Carlyle to keep Philadelphia plant open

Terms of the deal will be announced at a news briefing later Monday morning, sources said.

Sunoco and Carlyle sent out a press release earlier Monday morning about the briefing, which will include speakers from the two companies as well as Pennsylvania Representative Bob Brady, Pennsylvania Governor Tom Corbett and Leo Gerard, International President of the United Steelworkers union.

The two companies have been in exclusive talks since April to keep the 335,000-barrel-per-day (BPD) Philadelphia plant operational.

Last year, Sunoco it was looking to sell or close the refinery as it exited the money-losing refining business. It already closed the 178,000-bpd plant in Marcus Hook, several miles away.

Last Wednesday, the members of United Steelworkers Union 10-1 and the two companies tentatively reached a labor agreement. The USW workers at the plant were expected to ratify the contract on Monday night, removing a hurdle to the deal, going forward.

In April, when the companies announced their talks, they said Sunoco would contribute the facilities and Carlyle would operate the plant.

On June 22, Delta Air Lines Inc agreed to buy the 185,000-BPD Trainer refinery, located several miles away, from Phillips 66 .

(Reporting By Janet McGurty; editing by John Wallace and Jeffrey Benkoe)