Sunoco Reports Preliminary Fourth Quarter 2011 Pretax Results; Sees Pretax Loss Ex-Items $48M

Sunoco, Inc. (NYSE: SUN) today reported a net pretax loss attributable to Sunoco shareholders of $660 million for the fourth quarter of 2011 versus pretax income attributable to Sunoco shareholders of $119 million for the fourth quarter of 2010. Excluding special items, Sunoco had a pretax loss of $48 million for the fourth quarter of 2011 versus a pretax loss of $4 million for the fourth quarter of 2010. These results are preliminary and shown on a pretax basis due to income tax amounts that have yet to be finalized. The Company expects to report after-tax financial results, including accompanying financial information, during the week of February 6, 2012. The Company does not expect material changes to pretax results as reported. Sunoco today issued a separate press release announcing strategic initiatives and management changes. Key fourth quarter details include:

* Logistics and Retail contributed pretax income of $106 million * Refining and Supply reported a pretax loss of $117 million * Completed the separation of SunCoke Energy, Inc. in January 2012 * Recognized a $630 million pretax provision for additional asset write-downs and idling expenses at the Philadelphia and Marcus Hook refineries