Valero Energy Corp completed the $585-million purchase of a 125,000 barrel per day (bpd) Meraux, Louisiana, refinery and related assets on Saturday, the company said in a statement, Reuters reports. Valero paid Murphy Oil Corp $325 million for the refinery and related logistics assets plus $260 million for inventory on-hand at the refinery in the purchase, which was first announced on Sept. 1.
In addition to the refinery, Valero bought a products terminal adjoining the refinery, a 3.2-percent interest in the Louisiana Offshore Oil Port and a 20-percent interest in the Collins Products Pipeline and T&M terminal.
In addition to the refinery, Valero bought a products terminal adjoining the refinery, a 3.2-percent interest in the Louisiana Offshore Oil Port and a 20-percent interest in the Collins Products Pipeline and T&M terminal.