Wed, Jul. 13, 8:58 AM
- Valero Energy (NYSE:VLO) agrees to acquire the remaining 50% membership interest in Parkway Pipeline from Kinder Morgan (NYSE:KMI) for an undisclosed sum.
- The move gives VLO increased access to the eastern U.S. by connecting the pipeline to the Colonial Pipeline system that runs from Houston to New York Harbor.
- The 110K bbl/day Parkway Pipeline transports refined petroleum products from VLO's 305K bbl/day St. Charles refinery in Louisiana to Mississippi for supply into KMI's 51%-owned Plantation pipeline system; VLO says Parkway could be expanded to more than 200K bbl/day.
Sep. 23, 2015, 4:43 PM
- Valero Energy Partners (NYSE:VLP) agrees to acquire the Corpus Christi Terminal Services Business from Valero Energy (NYSE:VLO) for $465M.
- The business includes two terminals that support VLO's Corpus Christi East and West refineries, with assets consisting of 134 tanks with 10.1M barrels of storage capacity for crude oil, intermediates and refined petroleum products.
- Joe Gorder, CEO of VLP's general partner, says the deal helps the company stay on course to deliver 25%-plus Y/Y distribution growth.
Feb. 27, 2015, 12:30 PM
- Valero Energy Partners (NYSE:VLP) agrees to acquire two terminal businesses from Valero Energy (NYSE:VLO) for ~$671M in cash and stock; VLP shares are halted.
- The assets, located at the Houston Ship Channel and on the Mississippi River in Louisiana, consist of storage tanks with a combined 13.6M barrels of storage capacity.
- Upon closing, VLP will enter into 10-year terminaling agreements with the VLO subsidiaries.
- VP expects the acquired businesses to contribute ~$75M of EBITDA in their first full year of operation.
Mar. 21, 2014, 12:55 PM
- Valero (VLO -1.5%) has bought a Mount Vernon, IN corn ethanol plant from Aventine Renewable Energy (AVRW). for an undisclosed sum
- The facility has a production capacity of 110M gallons/year, and is Valero's 11th corn ethanol plant. It has been shuttered for the last two years; Valero says it expects to resume production "within the next several months."
Feb. 16, 2012, 5:56 PM
Carl Icahn says he wants to put CVR Energy’s (CVI) refineries up for sale, and Oppenheimer thinks Marathon Petroleum (MPC) might be the best fit. MPC was sitting on $3B in cash at the end of Q4 and will see its capex fall as it completes large projects later this year. Icahn himself lists MPC along with WNR, HFC, TSO, VLO and COP as potential buyers.| Feb. 16, 2012, 5:56 PM
Oct. 26, 2011, 10:24 AMValero (VLO +8.4%) shares surge after the Daily Mail suggests the petroleum refiner could be in the middle of a takeover war between Royal Dutch Shell (RDS.A +1%) and other bigger rivals. Valero has been buying refining equipment being jettisoned by other companies squeezed by the rising cost of crude and declining demand for gasoline. | Oct. 26, 2011, 10:24 AM | 2 Comments