Sunoco LP
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
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7. Investments in Unconsolidated Affiliates
- Investments in Unconsolidated Affiliates
Description of Investments
The following is a summary of the Partnership’s significant unconsolidated investments:
J.C. Nolan
Sunoco owns a 50% interest in J.C. Nolan, which provides diesel fuel storage in Midland, Texas with storage capacity of 130,000 barrels and transports diesel fuel from a tank farm in Hebert, Texas to Midland, Texas, on a 500 mile pipeline with a throughput capacity of approximately 36 thousand barrels per day.
Sunoco owns a 32.5% interest in ET-S Permian, which operates more than 5,000 miles of crude oil and water gathering pipelines with crude oil storage capacity in excess of 11 million barrels.
SARA
Sunoco owns a 29% interest in SARA, which is a refinery based in Martinique with operations to sell refined crude oil in Guadeloupe, French Guiana and Martinique.
Isla
Sunoco owns a 50% interest in Isla, which is comprised of over 200 retail locations alongside an integrated commercial and aviation business in Dominican Republic.
Summary of Balances Related to Unconsolidated Affiliates
The carrying values of the Partnership’s investments in unconsolidated affiliates as of December 31, 2025 and 2024 were as follows:
| December 31,2025 | December 31,2024 | |
|---|---|---|
| J.C. Nolan | $121 | $123 |
| ET-S Permian | 1,161 | 1,212 |
| SARA | 141 | — |
| Isla | 171 | — |
| Other | 30 | — |
| $1,624 | $1,335 |
The following table presents equity in earnings (losses) of unconsolidated affiliates:
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| J.C. Nolan | $7 | $7 | $5 |
| ET-S Permian | 134 | 53 | — |
| SARA | 1 | — | — |
| Isla | 2 | — | — |
| Other | (1) | — | — |
| $143 | $60 | $5 | |
Summarized Financial Information
The following tables present aggregated selected balance sheet and income statement data for Sunoco’s unconsolidated affiliates: J.C. Nolan, ET-S Permian, SARA and Isla (on a 100% basis), for all periods presented:
| December 31,2025 | December 31,2024 | |
|---|---|---|
| Current assets | $511 | $650 |
| Property, plant and equipment, net | 3,912 | 3,542 |
| Other assets | 361 | 310 |
| Total assets | $4,784 | $4,502 |
| Current liabilities | $375 | $477 |
| Non-current liabilities | 159 | 49 |
| Equity | 4,250 | 3,976 |
| Total liabilities and equity | $4,784 | $4,502 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenues | $21,022 | $8,267 | $34 |
| Operating income | 444 | 176 | 10 |
| Net income | 437 | 176 | 10 |
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