NEW YORK, May 7 - U.S. Northeast refiner Sunoco Inc (SUN.N) said on Thursday that it sees a challenging market environment for the rest of 2009 due to a weaker economy.
Chairman and Chief Executive Lynn Elsenhans also said in a conference call to discuss quarterly earnings that the company remains open to any compelling acquisition opportunities but she doesn't anticipate any "in this kind of environment."
Other officials of the Philadelphia-based company told the analysts that Sunoco expects fewer gasoline imports from Europe this summer due to lower production of the motor fuel on the continent as refiners cut crude runs.
They declined to provide guidance on second quarter crude oil refinery throughput but said it averaged 78 percent in April, and stood at 80 percent excluding the 85,000-barrel per day Tulsa, Oklahoma refinery sold that month to Holly Corp (HOC.N).
Crude oil utilization averaged 74 percent in the first quarter, Sunoco said in its earnings statement on Wednesday.
Chairman and Chief Executive Lynn Elsenhans also said in a conference call to discuss quarterly earnings that the company remains open to any compelling acquisition opportunities but she doesn't anticipate any "in this kind of environment."
Other officials of the Philadelphia-based company told the analysts that Sunoco expects fewer gasoline imports from Europe this summer due to lower production of the motor fuel on the continent as refiners cut crude runs.
They declined to provide guidance on second quarter crude oil refinery throughput but said it averaged 78 percent in April, and stood at 80 percent excluding the 85,000-barrel per day Tulsa, Oklahoma refinery sold that month to Holly Corp (HOC.N).
Crude oil utilization averaged 74 percent in the first quarter, Sunoco said in its earnings statement on Wednesday.
