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.”
Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. Valero subsidiaries employ approximately 21,000 people, and assets include 16 petroleum refineries with a combined throughput capacity of approximately 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. Approximately 6,800 retail and branded wholesale outlets carry the Valero, Diamond Shamrock, Shamrock and Beacon brands in the United States and the Caribbean; Ultramar in Canada; and Texaco in the United Kingdom and Ireland. Valero is a Fortune 500 company based in San Antonio. Please visit www.valero.com for more information.