EPCA '11: US Valero completes $585m purchase of Louisiana refinery

01 October 2011 12:44  [Source: ICIS news]

BERLIN (ICIS)--Valero completed its $585m (€433m) purchase of Murphy Oil USA’s 135,000 bbl/day refinery and inventories at Meraux, Louisiana, the Texas-based energy producer said on Saturday.

Valero said it bought the refinery and related logistics assets for $325m and inventories valued at $260m.

The purchase includes an adjacent product terminal, a 20% equity interest in the Collins Product Pipeline and T&M terminal, and a 3.2% interest in the Louisiana Offshore Oil Port (LOOP), Valero said.

($1 = €0.74)

By: Brian Ford
+1 713 525 2653

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