[StBernard] Valero Completes Acquisition of Murphy Oil's Meraux Refinery, Assets

[Westley Annis]

Valero Completes Acquisition of Murphy Oil's Meraux Refinery, Assets
Published October 01, 2011 | Dow Jones Newswires
  
NEW YORK -(Dow Jones)- Valero Energy Corp. (VOL) Saturday said it completed
its acquisition of Murphy Oil USA Inc' s oil refinery and related logistics
assets in Meraux, La.
The $325 million purchase price included inventories valued at about $260
million, 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).
"We would like to extend a welcome to our new employees. The Meraux
refinery, related assets and its employees will be great additions to our
company, said Bill Klesse, Valero's chairman and chief executive.
San Antonio-based Valero is the largest independent refiner in the U.S. with
16 petroleum refineries with a combined throughput capacity of about 3
million barrels per day, 10 ethanol plants with a combined production
capacity of 1.2 billion gallons per year, and a 50-megawatt wind farm.
Copyright C 2011 Dow Jones Newswires


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