Valero Energy Corporation - Recent Acquisitions

Recent Acquisitions

On August 1, 2011, Valero acquired the Pembroke Refinery from Chevron, as well as the marketing and logistics assets, for $730 million, excluding working capital, which was valued at approximately $1 billion. The Pembroke plant is one of the largest and most complex refineries in Western Europe with a total throughput capacity of 270,000 barrels (43,000 m3) per day and a Nelson complexity index rating of 11.8. This puts Valero at a total of 15 refineries and 2.9 million barrels (460,000 m3) per day of throughput capacity overall, solidifying the company’s standing as the world’s largest independent refinery.

In addition to the refinery, Valero also purchased ownership interest in 4 major pipelines and 11 fuel terminals, and acquired a 14,000-barrel (2,200 m3)-per-day aviation fuel business, as well as a network of more than 1,000 Texaco-branded wholesale sites, which is the largest branded dealer network in the United Kingdom and the second-largest in Ireland. Valero has continued with the Texaco brand in these markets.

Read more about this topic:  Valero Energy Corporation