Valero Completes Purchase of Meraux Refinery and Related Assets

abarrelfullabarrelfull wrote on 03 Oct 2011 05:39
Tags: deals murphy refinery usa valero

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Valero Energy Corporation (NYSE: VLO) announced today that it has completed its acquisition of Murphy Oil USA Inc.’s Meraux, La. refinery and related logistics assets for $325 million plus inventories valued at approximately $260 million.

In addition to the refinery, the purchase price includes an adjacent product terminal, a 20 percent equity interest in the Collins Product Pipeline and T&M terminal, and a 3.2 percent interest in the Louisiana Offshore Oil Port (LOOP).

“We would like to extend a welcome to our new employees,” said Bill Klesse, Valero’s Chairman and CEO. “The Meraux refinery, related assets and its employees will be great additions to our company.”

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