2Q06 Earnings Conference Call

August 3, 2006

1

Exhibit 99.2

Safe Harbor Statement

This slide presentation should be reviewed in conjunction with Sunoco’s Second Quarter 2006 earnings conference call, held on August

3, 2006

at

3:00

p.m.

ET.

You

may

listen

to

the

audio

portion

of

the

conference

call

on

the

website

or

an

audio

recording

will

be

available

after

the call’s completion by calling 1-800-642-1687 and entering conference ID#3219591.

Those statements made by representatives of Sunoco during the course of this conference call that are not historical facts are forward-

looking

statements

intended

to

be

covered

by

the

safe

harbor

provisions

of

Section

27A

of

the

Securities

Act

of

1933

and

Section

21E

of

the

Securities Exchange Act of 1934. These forward-looking statements are based upon a number of assumptions by Sunoco concerning future

conditions, any or all of which may ultimately prove to be inaccurate.  Forward-looking statements are inherently uncertain and necessarily

involve risks that may affect Sunoco's business prospects and performance, causing actual results to differ materially from those discussed

during this conference call.  Such risks and uncertainties include, by way of example and not of limitation: general economic, financial and

business conditions which could affect Sunoco’s financial condition and results of operation; changes in competition and competitive

practices, including the impact of foreign imports; effects of weather conditions and natural disasters on the Company’s operating facilities

and on

product

supply

and

demand;

changes

in

refined

product

and

chemical

margins;

variation

in

petroleum-based

commodity

prices

and

availability of crude oil and feedstock supply or transportation; effects of transportation disruptions; changes in the price differentials between

light-sweet and heavy-sour crude oils; changes in the marketplace which may affect supply and demand for Sunoco’s products; changes in the

level of operating expenses; changes in product specifications; availability and pricing of ethanol; changes in the expected level of

environmental capital, operating or remediation expenditures; age of, and changes in the reliability, efficiency and capacity of, the Company’s

operating facilities or those of third parties; effects of adverse events relating to the operation of the Company’s facilities and to the

transportation and

storage

of

hazardous

materials

(including

equipment

malfunction,

explosions,

fires,

spills

and

the

effects

of

severe

weather

conditions); risks related to labor relations and workplace safety; changes in applicable statutes and government relations or their

interpretations,

including

those

relating

to

the

environment

and

global

warming;

changes

in

tax

laws

or

their

interpretations,

including

pension

funding requirements; ability to identify acquisitions, execute them under favorable terms and integrate them into the Company’s existing

businesses; ability to enter into joint ventures and other similar arrangements under favorable terms; delays and/or costs related to

construction, improvements, and/or repairs of facilities (including shortages of skilled labor, the issuance of applicable permits and inflation);

non-performance by or disputes with major customers, suppliers, dealers, distributors or other business partners; changes in financial markets

impacting pension expense and funding requirements; political and economic conditions in the markets in which the Company, its suppliers

and customers operate, including the impact of potential terrorist acts and international hostilities; military conflicts between, or internal

instability in, one or more oil producing countries, governmental actions and other disruptions in the ability to obtain crude oil; and changes in

the status of, or initiation of, new litigation, arbitration or other proceedings to which the Company is a party or liability resulting from such

litigation, arbitration or other proceedings, including natural resource damage claims.  These and other applicable risks and uncertainties have

been described

more

fully

in

Sunoco's

Second

Quarter

2006

Form

10-Q

filed

with

the

Securities

and

Exchange

Commission

on

August

3,

2006.

Other factors not discussed herein also could materially and adversely affect Sunoco’s business prospects and/or performance.  All forward-

looking statements included in this conference call are expressly qualified in their entirety by the foregoing cautionary statements.

Sunoco undertakes no obligation to update any forward-looking statements whether as a result of new information or future events.

2

Earnings Profile

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

Net Income (MM$ after tax):

   Refining & Supply

108

212

341

286

   73

409

   Retail Marketing

  (8)

    7

    6

  25

  -

  10

   Chemicals

  33

  30

  23

    8

   14

    8

   Logistics

    3

    9

    7

    3

    6

  12

   Coke

  10

  13

  15

  10

  14

  10

   Corporate Expenses

  (16)

  (16)

  (25)

  (27)

  (16)

(11)

   Net Financing Expenses & Other

  (14)

  (13)

  (10)

   (8)

  (12)

(12)

      Income Before Special Items

116

242

357

297

79

426

         Special Items 

    -

    -

  (28)

  (10)

   - 

    -

      Total Net Income

116

242

329

287

79 

426

EPS (Diluted), Before Special Items 

0.83

1.75

2.60

2.19

0.59

3.22

EPS (Diluted), Net Income

0.83

1.75

2.39

2.12

0.59

3.22

3

Earnings Profile

2Q06

2Q05

C

1Q06

C

Net Income (MM$ after tax):

   Refining & Supply

409

212

197

  73

336

   Retail Marketing

  10

    7

    3

   -

  10

   Chemicals

    8

  30

(22)

  14

   (6)

   Logistics

  12

    9

    3

    6

    6

   Coke

  10

  13

   (3)

  14

   (4)

   Corporate Expenses

(11)

(16)

    5

(16)

    5

   Net Financing Expenses & Other

(12)

(13)

    1

(12)

     -

      Income Before Special Items

426

242

184

  79

347

         Special Items 

     -

      -

     -

     -

     -

      Total Net Income

426

242

184

79

347

EPS (Diluted), Before Special Items 

3.22

1.75

84%

0.59

446%

EPS (Diluted), Net Income

3.22

1.75

84%

0.59

446%

4

Earnings Profile

1H06

1H05

C

Net Income (MM$ after tax):

   Refining & Supply

482

320

162

   Retail Marketing

  10

   (1)

  11

   Chemicals

  22

  63

(41)

   Logistics

  18

  12

    6

   Coke

  24

  23

    1

Corporate Expenses

(27)

(32)

    5

Net Financing Expenses & Other

(24)

(27)

    3

      Income Before Special Items

505

358

147

         Special Items 

      -

      -

     -

      Total Net Income

505

358

147

EPS (Diluted), Before Special Items 

3.80

2.58

47%

EPS (Diluted), Net Income

3.80

2.58

47%

5

Income Before Special Items*, MM$

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

Refining & Supply

108

212

341

286

  73

409

Non-Refining

  38

  59

  51

  46

  34

  40

Corp. & Net Fin.

  (30)

  (29)

  (35)

  (35)

  (28)

(23)

   Income Before

      Special Items

116

242

357

297

  79

426

EPS (Diluted), Before

   Special Items

0.83

1.75

2.60

2.19

0.59

3.22

6

$426

$79

$297

$357

$242

$116

$0

$100

$200

$300

$400

$500

* For reconciliation to Net Income, see slide 3.

Earnings

Before

Special

Items*

–

2Q06

vs.

2Q05,

MM$

7

2Q05

Actual

2Q06

Actual

Volume

R & S

(9)

Retail

1

Chemicals

2

Margins

R & S          233

Retail              4

Chemicals  (30)

242

Expenses/Other

R & S               (27)

Retail                  (2)

Chemicals          6

207

(6)

(23)

6

426

Other

Logistics

3

Coke

(3)

Corporate          5

Net Financing

1

* For reconciliation to Net Income, see slide 3.

Earnings

Before

Special

Items*

–

2Q06

vs.

1Q06,

MM$

8

1Q06

Actual

2Q06

Actual

Volume

R & S

28

Retail

4

Chemicals    2

Margins

R & S

304

Retail                7

Chemicals

(16)

79

Expenses/Other

R & S

4

Retail

(1)

Chemicals

8

Other

Logistics

6

Coke

(4)

Corporate

5

295

34

11

7

426

* For reconciliation to Net Income, see slide 3.

Key Margin Indicators

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

Refining & Supply, $/B

   Realized Northeast

  6.11

  7.55

10.52

  9.18

  5.35

11.56

   Realized MidContinent

  5.42

  8.80

11.60

12.25

  8.38

15.00

      Realized Total R&S

  5.93

  7.87

10.80

  9.96

  6.13

12.41

Retail Marketing, cpg

   Gasoline

  5.7

  7.9

  7.7

11.0

  6.8

  8.4

   Distillate 

12.0

  7.9

  8.8

13.5

12.0

  8.7

Chemicals, cpp

   Phenol and Related

11.0

12.8

10.7

  9.3

  9.1

  7.1

   Polypropylene

15.4

13.2

12.7

14.3

13.2

11.1

      Total Chemicals

12.6

12.8

11.5

11.4

10.9

  8.8

Dated Brent Crude Oil       

  Delivered, $/B

48.93

52.73

62.70

58.15

63.13

70.90

Natural Gas, $/DT

  6.48

  6.95

  9.71

12.86

  7.88

6.67

9

Refining & Supply –

Realized Margin vs. Benchmark, $/B

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

Northeast Refining:

   6-3-2-1 Benchmark

4.51

6.06

11.23

  9.23

4.49

  8.76

      Crude Differential

0.80

0.15

  (0.09)

  (2.29)

(1.19)

(1.06)

      Product Differential

0.80

1.34

  (0.62)

  2.24

2.05

  3.86

   Realized Margin

6.11

7.55

10.52

  9.18

5.35

11.56

MidContinent Refining:

   3-2-1 Benchmark

6.24

9.94

16.03

11.95

7.92

18.63

      Crude Differential

(0.55)

(0.36)

  (0.17)

  (0.51)

0.67

  0.58

      Product Differential

(0.27)

(0.78)

  (4.26)

  0.81

(0.21)

(4.21)

   Realized Margin

5.42

8.80

11.60

12.25

8.38

15.00

10

($3.63)

$2.80

$0.86

($0.05)

($0.71)

$1.49

$1.60

$0.46

($1.14)

$0.30

($4.43)

($0.82)

($5.00)

($4.00)

($3.00)

($2.00)

($1.00)

$0.00

$1.00

$2.00

$3.00

$4.00

Northeast

MidContinent

Refining & Supply -

2Q06 Gasoline and Distillate Production

Northeast

Refining

MidContinent

Refining

Total Refining

& Supply

Gasoline Production, MB/D

342.4

111.5

453.9

   RFG

54%

    0%

41%

   Conventional

46%

100%

59%

Distillate Production, MB/D

235.3

74.8

310.1

   On-Road Diesel Fuel

46%

38%

44%

   Heating Oil / Off-Road Diesel

35%

28%

33%

   Jet Fuel

13%

34%

19%

   Kerosene / Other

  6%

  0%

  4%

11

Key Volume Indicators

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

Refining & Supply

   Northeast:

      Crude Throughputs, MB/D

   646

   655

   643

   659

   610

640

      % Capacity

     99

   100

    98

   101

     93

  98

      Net Production Available for Sale, MB/D

   685

   700

   677

   705

   664

698

   MidContinent:

      Crude Throughputs, MB/D

   229

   236

   223

   234

   225

224

      % Capacity

     93

     96

     91

     95

     92

  92

      Net Production Available for Sale, MB/D

   234

   241

   228

   238

   233

231

   Total Refining & Supply:

      Crude Throughputs, MB/D

   875

   891

   866

   893

   835

864

      % Capacity

     97

     99

     96

     99

     93

  96

      Net Production Available for Sale, MB/D

   919

   941

   905

   943

   897

928

      Net Production Available for Sale, MMB

     83

     86

     83

     87

     81

  84

Retail Marketing

   Gasoline Sales, MM gal

1,095

1,167

1,195

1,115

1,086

1,181

   Middle Distillate Sales, MM gal

   187

   161

   165

   181

   176

   158

      Total Sales, MM gal

1,282

1,328

1,360

1,296

1,262

1,339

   Gasoline and Diesel Throughput (MM gal/Site/Month)

   (Company owned or leased outlets)

   132

   139

   143

   131

   132

143

   Merchandise Sales (M$/Store/Month)

     71

     81

     84

     76

     71

82

Chemicals

   Phenol and Related Sales, MM#

   681

   617

   662

   619

   633

   663

   Polypropylene Sales, MM#

   533

   583

   590

   512

   562

   569

   Other Sales, MM#

     33

     16

     20

     22

     21

     21

      Total, MM#

1,247

1,216

1,272

1,153

1,216

1,253

Coke

   Production, M tons

   503

   625

   643

   634

   631

627

   Sales, M tons

   497

   621

   647

   610

   647

632

12

Financial Indicators

1Q05

2Q05

3Q05

4Q05

1Q06

2Q06

Debt / Capital Ratio – 

   Revolver Covenant, MM$

      Net Debt *

1,141

1,061

   679

   499

1,169

   844

      SXL ** Minority Interest

   236

   337

   398

   397

   394

   506

      Shareholders’ Equity

1,614

1,802

2,062

2,051

2,027

2,295

         Total Capital

2,991

3,200

3,139

2,947

3,590

3,645

      Net Debt / Capital

38%

33%

22%

17%

33%

23%

Share Repurchase Activity

   Total Cost, MM$

70

61

35

269

48

150

   Shares Repurchased, MM

1.4

1.2

0.5

3.6

0.6

2.2

   Average Price, $/share

48.16

51.22

65.77

75.57

76.98

67.61

   Shares Outstanding at 

      Period End, MM

137.7

136.6

136.1

133.1

132.6

130.4

*

Net of cash, includes debt guarantees

**

Sunoco Logistics Partners L.P. (NYSE: SXL)

13

For More Information

14

Media releases and SEC filings are available

on our website at www.SunocoInc.com

Contact for more information:

Terry Delaney

(215) 977-6106

Tom Harr

(215) 977-6764