ANNOUNCEMENT: Sunoco LP (Sunoco Marine Ltd) and Verde Marine Energy Announce Commercial Collaboration in ARA and UK Bunker Markets

The Texas Stock Exchange (TXSE) secured its first primary equity listings, with Energy Transfer, USA Compression Partners, Sunoco LP, and SunocoCorp LLC moving from the NYSE. The companies have a combined market cap of nearly $100 billion. TXSE aims to challenge NYSE and Nasdaq by leveraging Texas's business-friendly policies, though analysts note past attempts faced challenges.

Energy Transfer and three affiliates (ET, SUN, SUNC, USAC) plan to move their primary listings from the NYSE to the Texas Stock Exchange (TXSE), representing nearly $100 billion in market value. The move, effective in early October, marks the first major listing loss for the NYSE. TXSE, backed by major firms, aims to attract more listings and has updated index eligibility rules to facilitate the transition.

Sunoco LP (SUN) is predicted to grow its dividend payout faster than ExxonMobil and Chevron over the next five years. The company has raised its dividend for seven consecutive quarters, targeting at least 5% annual growth. Sunoco's recent $600 million acquisition of Offen Petroleum is expected to be accretive and may further boost dividend growth, according to the company.

Sunoco LP agreed to buy Offen Petroleum in an all-cash deal valued at about $600M, to expand its U.S. fuel distribution network. Offen distributes about 2.5B gallons annually to ~7,000 customers and over 800 retail stations. Closing is expected in Q4 2026, pending regulatory approval.

Sunoco LP (SUN) agreed to buy Offen Petroleum for about $600 million in cash, according to the company. Sunoco said the deal would expand its fuel distribution footprint, serving about 2.5 billion gallons annually, roughly 7,000 customers, and over 800 retail stations. Sunoco reported $773 million cash at Q2 end and net debt to Adjusted EBITDA of about 3.7x.

Sunoco (NYSE:SUN) reported Q2 fuel distribution volumes of 4.1B gallons, up 9% sequentially and 89% year over year, with reported margin of 17.1 cents per gallon. Pipeline adjusted EBITDA was $190M and terminals $115M. Refinery adjusted EBITDA rose to $175M. CEO Joe Kim said 2026 EBITDA guidance will be materially exceeded, with revised range driven by refining uncertainty.