Slide Presentation

3Q10 Earnings Conference Call

October 28, 2010

Exhibit 99.2

This slide presentation should be reviewed in conjunction with Sunoco’s Third Quarter 2010 earnings conference call held on

October

28,

2010

5:30

p.m.

ET.

You

may

listen

the

audio

portion

the

conference

call

the

website

audio

recording

will

available

after

the

call’s

completion

calling

1-800-583-8095

and

entering

conference

#8159532.

Statements in this presentation that are not historical facts are forward-looking statements intended to be covered by the safe

harbor

provisions

Section

27A

the

Securities

Act

1933

and

Section

21E

the

Securities

Exchange

Act

1934.

These

forward-looking statements are based upon assumptions by Sunoco concerning future conditions, any or all of which ultimately

may prove to be inaccurate, and upon the current knowledge, beliefs and expectations of Sunoco management. These

forward-looking statements are not guarantees of future performance.

Forward-looking statements are inherently uncertain and involve significant risks and uncertainties that could cause actual

results

differ

materially

from

those

described

during

this

presentation.

Such

risks

and

uncertainties

include

economic,

business, competitive and/or regulatory factors affecting Sunoco's business, as well as uncertainties related to the outcomes of

pending or future litigation.

In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of

1995, Sunoco has included in its Annual Report on Form 10-K for the year ended December 31, 2009, and in its subsequent

Form 10-Q and Form 8-K filings, cautionary language identifying important factors (though not necessarily all such factors) that

could

cause

future

outcomes

differ

materially

from

those

set

forth

the

forward-looking

statements.

For

information

concerning these factors, see Sunoco's Securities and Exchange Commission filings, available on Sunoco's website at

www.SunocoInc.com.

Sunoco

expressly

disclaims

any

obligation

update

alter

its

forward-looking

statements,

whether

a result of new information, future events or otherwise.

This presentation includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP

measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided in the Appendix at the

end of

the

presentation.

Investors

are

urged

consider

carefully

the

comparable

GAAP

measures

and

the

reconciliations

those measures provided in the Appendix, or on our website at www.SunocoInc.com.

Safe Harbor Statement

3Q10 Results

After-tax income before special items of $27MM* ($0.22/share diluted),

pre-tax

income of $33MM*

Retail & Logistics contributed pre-tax income of $110MM

SunCoke earned $44MM pre-tax, continuing record of strong performance

Refining & Supply (R&S) reported a pre-tax loss of $70MM in challenging

market environment

Year-over-year improvement reflects our continued focus on fundamentals

Strategic Outlook

We remain focused on the fundamentals: running our refineries safely and

reliably

optimal

capacity

utilization,

lowering

our

breakeven

cost

per

barrel,

and improving margin capture, all of which are designed to increase our cash

generation from operations

Strong balance sheet and logistics & brand led strategy that is focused on

higher growth leave us well positioned going forward

* For

reconciliation

Net

Income

(Loss),

see

Slides

and

15.

Special

Items

3Q10

include

net

gain of $38MM after-tax.

Summary

YTD

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

2010

Refining & Supply

Continuing Operations

(130)

(182)

(227)

(70)

138

(70)

(2)

Discontinued Tulsa Operations

(10)

Retail Marketing

175

Logistics

Coke

151

Chemicals

Continuing Operations

(17)

(6)

(4)

Discontinued Polypropylene Operations

Corporate Expenses

(18)

(15)

(18)

(16)

(23)

(30)

(28)

(81)

Net Financing Expenses & Other

(17)

(19)

(20)

(28)

(27)

(28)

(83)

Pre-Tax Income (Loss) Before Special Items

(54)

(62)

(141)

247

309

Pre-Tax Income (Loss) Before Special Items*, MM$

247

(141)

(62)

(54)

($200)

($100)

$100

$200

$300

* Pre-Tax Income (Loss) Before Special Items. For reconciliation to Net Income (Loss), see Slide 15.

Retail Marketing –

Pre-Tax Earnings of $68MM

Strong margins even with rising wholesale prices during the

quarter

3Q volumes higher than prior year (overall and OBY) for gasoline

& distillate

Logistics –

Pre-Tax Earnings of $42MM

Strong performance from Sunoco Logistics Partners L.P. (NYSE:

SXL); Earnings helped by 2009 and 2010 acquisitions and

contango profits

Coke –

Pre-Tax Earnings of $44MM

Strong operations and spot coal sales helped performance

Maintain full year guidance of after-tax income between $125MM -

$140MM

* Pre-Tax Business Unit Income Before Special Items, excluding income attributable to

non-controlling interests. For reconciliation to Net Income (Loss), see Slide 15.

Retail, Logistics & Coke Income* -

3Q10

Market margins deteriorated in 3Q on abundant supply and continued low

demand; rising crude prices further challenged margin capture

Near break-even YTD, better than last year by $284MM, as a result of actions

on operations, cost structure and margin capture

Market

expected

remain

challenging

with

continued

economic

weakness

and additional global supply => we remain focused on fundamentals

Refining & Supply -

3Q10 Pre-Tax Income*, MM$

* Pre-Tax Business Unit Income Before Special Items, excluding discontinued Tulsa refining operations.

For reconciliation of Pre-Tax Income (Loss) and Net Income (Loss), see Slides 14 and 15.

(130)

(182)

(227)

(70)

138

(70)

($300)

($200)

($100)

$100

$200

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

* R&S Weighted

Benchmark. For calculation, see Slide 24.

** Excludes discontinued Tulsa refining operations.

Realized R&S Margin vs. Benchmark*, $/B

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Refining & Supply

Realized Margin **

6.33

3.65

2.72

1.96

3.66

4.08

7.34

3.88

5.13

Weighted Benchmark *

5.71

6.05

4.57

3.59

4.98

5.67

6.51

4.87

5.68

Differential

0.62

(2.40)

(1.85)

(1.63)

(1.32)

(1.59)

0.83

(0.99)

(0.55)

Margin Capture Rate

111%

60%

55%

73%

72%

113%

80%

90%

Actual vs. Weighted Benchmark:

Crude

1.40

0.18

0.10

(0.61)

0.27

(0.92)

0.33

(0.92)

(0.51)

Product

(0.78)

(2.58)

(1.95)

(1.02)

(1.59)

(0.67)

0.50

(0.07)

(0.04)

Differential

0.62

(2.40)

(1.85)

(1.63)

(1.32)

(1.59)

0.83

(0.99)

(0.55)

0.92

(0.33)

0.61

0.92

(0.10)

(0.18)

(1.40)

-4.00

-2.00

0.00

2.00

4.00

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

Crude Cost vs. Weighted Benchmark

(0.07)

0.50

(0.67)

(1.02)

(1.95)

(2.58)

(0.78)

-4.00

-2.00

0.00

2.00

4.00

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

Products vs. Weighted Benchmark

Total Refining & Supply (excluding Tulsa)

* R&S Weighted

Benchmark. For calculation, see Slide 24.

3Q10 Comments:

Timing hit of ~$.50/B due to rising crude prices

at end of quarter/early October

Quality differentials higher across system

Transportation costs lower than 2Q10 but still

above benchmark

3Q10 Comments:

Realizations on benchmark products

supported by matching operations to margin

opportunities

Vs 2Q10, realizations challenged by lower

overall gasoline cracks and narrower value

added gasoline differentials, lower ULSD

production and rising absolute prices

Realized R&S Margin vs. Benchmark*, $/B

SUN

SXL

(ex SXL)

Sunoco

SXL

(ex SXL)

Sunoco

Cash from ops ex working capital

106

185

201

788

989

Working capital

(33)

(191)

(224)

(125)

(72)

Cash flow from operations

(85)

(39)

841

917

Capital expenditures

(280)

(142)

(422)

(357)

(404)

(761)

Free cash flow

(234)

(227)

(461)

(281)

437

156

Divestments

366

Dividends to Sunoco shareholders

(18)

(54)

Distributions & other

(27)

(4)

(31)

(73)

(19)

(92)

SXL equity issue/sale, & GP contribution

147

(3)

144

147

142

289

SXL dividends to Sunoco

(21)

(67)

SXL dividends to Sunoco for IDR reset

(201)

201

Sunoco loan to SXL

100

(100)

100

(100)

Net cash flow before net debt activity

(35)

(327)

(362)

(375)

1,040

665

Net debt activity

(6)

375

(288)

Net increase/(decrease) in cash & cash

equivalents

(333)

752

3Q10

YTD10

Sunoco and SXL Cash Flow, MM$

* Includes $394MM related to tax refund received in 1Q10 (included within working capital in Consolidated

Statement of Cash Flows).

12/31/09

3/31/10

6/30/10

9/30/10

Sunoco (ex-SXL)*

32%

16%

-6%

SXL

50%

63%

65%

61%

Consolidated**

41%

34%

25%

28%

Sunoco Net Debt/(Cash)

1,223

498

(153)

173

SXL Net Debt***

866

1,139

1,211

1,346

Consolidated Net Debt, MM$

2,089

1,637

1,058

1,419

Total Cash, MM$

377

812

1,462

1,129

34%

25%

28%

41%

-6%

16%

32%

Consolidated

Sunoco (ex-SXL)

* Proforma.

** Sunoco

Revolver

Covenant

basis.

For

calculation,

see

Slides

and

20.

*** Includes intercompany loan due to Sunoco from SXL at 9/30/2010 which is eliminated in consolidation.

Net Debt-to-Capital Ratio, %

Refining

& Supply

1,100

Chemicals

690

Logistics

1,070

Will create two well-positioned businesses:

Leading high-quality metallurgical coke manufacturer with operations in the

U.S. and abroad

Streamlined fuels business that is better positioned to become the premier

provider of transportation fuels in its markets

Enhances both businesses and allows each to pursue more

focused strategic plan

Separation event still planned for first half of 2011

Fritz Henderson hired to lead SunCoke; will be CEO after

separation

Private letter ruling filed in late October 2010

Unlocking Shareholder Value via SunCoke Separation

Market still challenging but we’re prepared and not slowing down

Refining improvement over prior year reflects focus on margin capture, cost reduction &

reliability

Retail, Logistics & Coke performing well and generating value

Strong balance sheet: $1.1 billion of cash & net debt of approx $175 MM, excluding SXL

Focused on fundamentals

Run safely & reliably at optimal capacity utilization

Improve margin capture

Lower our break-even cost per barrel

Protect the balance sheet

Positioning for future success

Become premier provider of transportation fuels in our markets

Achieve sustainably lower cost structure

Separate SunCoke Energy

Grow through SXL & Retail business

Key Takeaways

Appendix

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Refining & Supply

Continuing Operations

(77)

(118)

(135)

(316)

(42)

(44)

Discontinued Tulsa Operations

(6)

Retail Marketing

107

Logistics

Coke

180

111

Chemicals

Continuing Operations

(12)

(3)

(2)

(13)

Discontinued Polypropylene Operations

Corporate Expenses

(11)

(15)

(6)

(38)

(23)

(20)

(17)

(60)

Net Financing Expenses & Other

(10)

(11)

(12)

(17)

(50)

(17)

(19)

(15)

(51)

Income (Loss) Before Special Items

(31)

(34)

(31)

(37)

158

202

Special Items

(47)

(24)

(278)

(292)

(80)

(13)

(55)

Net Income (Loss) attributable to

Sunoco shareholders

(55)

(312)

(329)

(63)

145

147

EPS, $/Share (diluted)

Income (Loss) Before Special Items

0.50

(0.27)

(0.29)

(0.27)

(0.32)

0.14

1.31

0.22

1.68

Net Income (Loss) attributable to

Sunoco shareholders

0.10

(0.47)

(2.67)

0.22

(2.81)

(0.53)

1.20

0.54

1.22

Earnings Profile, MM$ After-Tax

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Refining & Supply

Continuing Operations

(130)

(182)

(227)

(513)

(70)

138

(70)

(2)

Discontinued Tulsa Operations

(10)

Retail Marketing

146

175

Logistics

152

Coke

193

151

Chemicals

Continuing Operations

(17)

(6)

(4)

(21)

Discontinued Polypropylene Operations

Corporate Expenses

(18)

(15)

(18)

(16)

(67)

(23)

(30)

(28)

(81)

Net Financing Expenses & Other

(17)

(19)

(20)

(28)

(84)

(28)

(27)

(28)

(83)

Pre-Tax Income (Loss) Before Special Items

(54)

(62)

(141)

(167)

247

309

Pre-Tax Special Items

(79)

(41)

(467)

(493)

(214)

(22)

(174)

Pre-Tax Income (Loss)

(95)

(529)

(47)

(660)

(185)

225

135

Income Tax Expense (Benefit)

(1)

(40)

(217)

(73)

(331)

(122)

(12)

Net Income (Loss) attributable to

Sunoco shareholders

(55)

(312)

(329)

(63)

145

147

Earnings Profile, MM$ Pre-Tax

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Realized Margin Indicators

Refining & Supply, $/B*

6.33

3.65

2.72

1.96

3.66

4.08

7.34

3.88

5.13

Retail Marketing, cpg

Gasoline

6.4

7.0

13.0

8.8

8.9

11.5

10.5

10.3

Distillate

24.5

12.0

11.7

7.9

14.8

8.0

9.0

7.8

8.3

Chemicals, cpp**

6.6

8.2

7.3

9.7

8.0

9.9

8.9

7.6

8.7

Market Indicators

Dated Brent Crude Oil, $/B

44.40

58.79

68.27

74.56

61.51

76.24

78.30

76.86

77.13

Natural Gas, $/DT

4.48

3.81

3.44

4.92

4.16

5.04

4.34

4.23

4.54

* Excludes discontinued Tulsa refining operations.

** Excludes discontinued polypropylene operations.

Key Indicators

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Total Refining & Supply *

Crude Throughputs, MB/D

627

644

613

617

625

533

618

632

595

% Capacity

Net Prod. Available for Sale, MB/D

689

720

669

682

690

591

664

682

646

Net Prod. Available for Sale, MMB

252

176

* Excludes discontinued Tulsa refining operations.

Key Volume Indicators –

Refining & Supply

* Excludes discontinued polypropylene operations.

Key Volume Indicators –

Retail, Chemicals, Coke

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Retail Marketing

Gasoline Sales, MM Gal

1,066

1,147

1,140

1,108

4,461

1,026

1,130

1,171

3,327

Middle Distillate Sales, MM Gal

138

116

114

463

114

117

322

Total Sales, MM Gal

1,204

1,263

1,254

1,203

4,924

1,117

1,244

1,288

3,649

Gasoline and Diesel Throughput

143

153

156

153

151

147

159

148

152

(Company-Owned or Leased Outlets)

(M Gal/Site/Month)

Merchandise Sales (M$/Store/Month)

104

117

103

Chemicals*

Phenol and Related Sales, MM#

407

427

483

457

1,774

449

554

567

1,570

Coke

Production, M Tons:

United States

681

694

715

778

2,868

841

883

953

2,677

Brazil

280

282

321

383

1,266

413

422

431

1,266

Represents intercompany loan due to Sunoco from SXL at 9/30/2010 which is eliminated in consolidation.

Represents

Partners’

Capital

for

SXL

and

Shareholders’

Equity

for

Sunoco.

*** The

Net

Debt

Capital

ratio

used

Sunoco

management

its

internal

financial

analysis

and

investors

and

creditors in the assessment of Sunoco’s financial position.

**** Capital excludes noncontrolling interests.

Proforma

SUN

SXL

(ex SXL)

Sunoco

SXL

(ex SXL)

Sunoco

Debt

1,213

1,306

2,519

1,248

1,299

2,547

Intercompany Debt

100

Plus: Debt Guarantees

Less: Cash

(2)

(1,460)

(1,462)

(2)

(1,127)

(1,129)

Net Debt

1,211

(153)

1,058

1,346

173

1,419

Equity**

664

2,831

958

2,920

SXL Noncontrolling Interest

418

689

Capital

1,875

2,678

4,307

2,304

3,093

5,028

Net Debt / Capital (Sunoco

Revolver Covenant Basis)***

-6%

25%

28%

Debt / Capital (GAAP Basis) ****

65%

32%

47%

61%

31%

47%

6/30/2010

9/30/2010

Financial Ratios, MM$ except ratios

Represents

Partners’

Capital

for

SXL

and

Shareholders’

Equity

for

Sunoco.

** The Net Debt / Capital ratio is used by Sunoco management in its internal financial analysis and by investors and

creditors in the assessment of Sunoco’s financial position.

*** Capital excludes noncontrolling interests.`

Financial Ratios, MM$ except ratios

Proforma

SUN

SXL

(ex SXL)

Sunoco

SXL

(ex SXL)

Sunoco

Debt

868

1,596

2,464

1,141

2,447

Plus: Debt Guarantees

Less: Cash

(2)

(375)

(377)

(2)

(812)

Net Debt

866

1,223

2,089

1,139

1,637

Equity*

862

2,557

657

2,712

SXL Noncontrolling

Interest

488

414

Capital

1,728

3,780

5,134

1,796

4,763

Net Debt / Capital (Sunoco

Revolver Covenant Basis)**

32%

41%

34%

Debt / Capital (GAAP Basis) ***

50%

38%

49%

63%

1,306

(810)

498

2,712

3,210

16%

33%

47%

12/31/2009

3/31/2010

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

12/31/2009

3/31/2010

6/30/2010

9/30/2010

SXL

Sunoco

1.7

* Includes cash and cash equivalents of $0.4B, $0.8B, $1.5B and $1.1B at 12/31/09, 3/31/10, 6/30/10

and 9/30/10, respectively.

2.7

Liquidity*, B$

3.2

2.9

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Total Refining & Supply *

Net Production, MB/D

689.1

720.2

669.2

681.7

689.9

590.5

664.2

681.5

645.8

Gasoline

51%

52%

53%

52%

Middle Distillates

34%

32%

33%

32%

34%

37%

36%

Residual Fuel

Petrochemicals

Other

Less Refinery Fuel

-5%

* Excludes discontinued Tulsa refining operations.

Refining & Supply –

Products Manufactured

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Total Refining & Supply *

Gasoline Production, MB/D

350.0

370.3

346.0

365.5

357.9

306.3

343.1

357.9

336.0

RFG

46%

55%

45%

48%

47%

48%

43%

46%

Conventional

54%

45%

55%

52%

53%

52%

57%

54%

Distillate Production, MB/D

233.4

229.5

219.3

225.3

202.4

244.5

250.1

232.4

On-Road Diesel Fuel

47%

53%

56%

52%

53%

66%

62%

61%

Heating Oil / Off-Road Diesel

30%

22%

23%

25%

28%

15%

18%

20%

Jet Fuel

20%

23%

19%

21%

17%

19%

18%

Kerosene/Other

* Excludes discontinued Tulsa refining operations.

Refining & Supply –

Gasoline and Distillate Production

Toledo

4-3-1

Benchmark

4 WTI Crude: NYMEX Futures Close + $2.00 for transportation*

3 Unleaded Gasoline: Chicago Pipeline Platt’s Low

1 Distillate: 50% ULSD Chicago Pipeline Platt’s Low

50% Jet Gulf Coast Pipe Platt’s Low**

Northeast

6-3-2-1

Value-Added

Benchmark

6 Dated Brent Crude: Platt’s Mid + $2.25 for transportation*

3 Gasoline: 50% Unleaded RBOB NY Harbor Barge Platt's Low

50% Unleaded Regular Gasoline NY Harbor Barge Platt's Low

2 Distillate: 55% ULSD NY Harbor Barge Platt's Low

20% Jet/Kero NY Harbor Barge Platt's Low

25% No.2 Fuel Oil NY Harbor Barge Platt's Low

1 No. 6 0.3% Sulfur High Pour Resid: NY Harbor Barge Platt’s Low

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Northeast 6-3-2-1

Value-Added Benchmark

5.32

5.23

4.10

3.85

4.62

6.09

5.91

4.22

5.41

Toledo 4-3-1

Benchmark

7.28

9.36

6.41

2.56

6.40

3.99

8.89

7.50

6.80

* Benchmarks were updated in 1Q10 to reflect higher market crude transportation costs and all prior periods were

restated for these new transportation costs.

** The Toledo benchmark was updated effective 1/1/2010 to include the US Gulf Coast Jet component. However,

prior to 2010, the benchmarks were not restated for this change due to immateriality.

YTD

1Q09

2Q09

3Q09

4Q09

FY09

1Q10

2Q10

3Q10

2010

Northeast 6-3-2-1

at 80% weight

4.26

4.18

3.28

3.08

3.70

4.87

4.73

3.37

4.32

Toledo 4-3-1

at 20% weight

1.45

1.87

1.29

0.51

1.28

0.80

1.78

1.50

1.36

R&S Weighted Benchmark

5.71

6.05

4.57

3.59

4.98

5.67

6.51

4.87

5.68

Sunoco Refining Weighted Benchmark Margin, $/B

Media releases and SEC filings are available

our

website

www.SunocoInc.com

Contact for more information:

Clare McGrory

(215) 977-6764

For More Information