Valero to Purchase SemLogistics Milford Haven Fuel Storage Facility
LONDON, Feb. 23, 2018 (GLOBE NEWSWIRE) -- Valero Logistics UK Ltd, a subsidiary of Valero Energy Corporation (NYSE:VLO), and SemGroup Europe Holding L.L.C., a SemGroup Corporation company, have today signed an agreement for the purchase of SemLogistics Milford Haven fuel storage facility on the west coast of Wales.
Situated across the Haven from Valero's refinery at Pembroke, the facility is one of the largest petroleum products storage facility in the United Kingdom (UK) with 8.5 million barrels of capacity for storing gasoline, gasoline blendstocks, naphtha, jet fuel, gas oil, diesel, and crude oil. Over 67 percent of the storage capacity is multiproduct or dual purpose, giving Valero the flexibility to meet customers' demands in the UK and throughout Northwest Europe. Additionally, Milford Haven will continue to operate as a third-party storage facility, offering storage options for third party customers across the European petroleum markets.
"This facility complements our Pembroke refinery and fuel terminal in the UK and Ireland, making it a natural fit for the company," said Joe Gorder, Valero Chairman, President and Chief Executive Officer. "This purchase demonstrates Valero's commitment to Wales and the UK, and it aligns with our strategy to grow the logistics business and reduce secondary costs," added Gorder.
Subject to customary regulatory approvals, Valero expects the purchase be completed in the third quarter of 2018. Valero also expects to retain the UK employees currently engaged in the business to be acquired.
Valero Logistics UK Ltd, a subsidiary of Valero Energy Corporation, operates terminals and pipelines in the UK. Valero Energy Ltd, its affiliate, markets fuel in the UK and Ireland under the Texaco brand, of which approximately 850 of the branded service stations are located in the UK and 230 in Ireland. Valero Energy Ltd also owns and operates Pembroke Refinery in southwest Wales, which is one of Europe's largest and most complex refineries. The company has ownership interests in four major pipelines, seven fuel terminals, and a 14,000 barrels per day aviation fuels business.
Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels and other petrochemical products. Valero, a Fortune 50 company based in San Antonio, Texas, with approximately 10,000 employees, is an independent petroleum refiner and ethanol producer, and its assets include 15 petroleum refineries with a combined throughput capacity of approximately 3.1 million barrels per day and 11 ethanol plants with a combined production capacity of 1.45 billion gallons per year. The petroleum refineries are located in the United States (US), Canada and the UK, and the ethanol plants are located in the Mid-Continent region of the US. In addition, Valero owns the 2 percent general partner interest and a majority limited partner interest in Valero Energy Partners LP, a midstream master limited partnership. Valero sells its products in both the wholesale rack and bulk markets, and approximately 7,400 outlets carry Valero's brand names in the US, Canada, the UK and Ireland. Please visit www.valero.com for more information.
John Locke, Vice President - Investor Relations, 210-345-3077
Karen Ngo, Senior Manager - Investor Relations, 210-345-4574
Lillian Riojas, Director - Media Relations and Communications, 210-345-5002
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Valero Energy Corp. via Globenewswire
Följ NASDAQ OMX
Abonnera på våra pressmeddelanden.
Senaste pressmeddelandena från NASDAQ OMX
Comodo CA Sees 35 Percent Year-Over-Year Increase in EV Certificates22.3.2018 15:47 | Pressmeddelande
EV SSL will be a topic of discussion at the Comodo CA booth during RSA 2018 CLIFTON, N.J., March 22, 2018 (GLOBE NEWSWIRE) -- Comodo CA, a worldwide leader in digital identity solutions, will address evolving cyberthreats and the increasing importance Extended Validation (EV) TLS/SSL certificates play in securing websites and inspiring consumer trust at the RSA Conference 2018, San Francisco, April 16 - 20. According to the Feb 2018 Netcraft report, Comodo CA has seen a 35 percent year-over-year increase of EV certificate units* making it one of the fastest growing providers of high assurance certificates. The volume of EV certificates globally also saw a record year in 2017 as more and more businesses adopt EV as standard practice for their websites. The demand for stronger, more secure EV certificates comes in the wake of increased phishing websites using Domain Validated (DV) certificates. Phishing websites imitate legitimate websites to steal customers' funds and identities. Phishi
CBT Pharmaceuticals to Grow Immuno-Oncology Pipeline by License Agreement of CrownBio CTLA-4 Antibody22.3.2018 14:43 | Pressmeddelande
SAN DIEGO, March 22, 2018 (GLOBE NEWSWIRE) -- Crown Bioscience, a wholly-owned subsidiary of Crown Bioscience International (TWSE:6554) and a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, announced today a strategic licensing agreement with CBT Pharmaceuticals (CBT), a U.S. and China-based innovative biopharmaceutical company committed to becoming a leader in the discovery and development of oncology combination therapies. The agreement gives CBT exclusive world-wide development and commercialization rights to a novel, recombinant, human monoclonal antibody which targets a differentiated epitope on the cytotoxic T-lymphocyte antigen-4 (CTLA-4) molecule. Binding of this antibody to CTLA-4 blocks the interaction of CTLA-4 with its ligands CD80/CD86 thus allowing the cytotoxic T cells to function actively. Under the terms of this global licensing agreement, CBT gain
Cloudflare Announces Mobile SDK to Monitor Network Performance for Applications22.3.2018 14:00 | Pressmeddelande
New free solution delivers network analytics to any mobile app developer SAN FRANCISCO, March 22, 2018 (GLOBE NEWSWIRE) -- Cloudflare, the leading Internet performance and security company, today announced the Cloudflare Mobile SDK, a free solution that enables any mobile app developer to understand network performance and metrics. Consumers are frustrated by mobile apps that are slow, crash, or deliver errors that degrade the user experience. For mobile app developers, a bad user experience means poor reviews, lower engagement, and reduced conversion on business metrics. Delivering consistent app performance requires focusing on every link in the chain: app code, network calls between the app and edge networks, and server infrastructure. There are a number of solutions that give developers analytics on their applications, but there has never been a way for app developers to understand how often their apps fail due to network errors. App developers easily integrate the Cloudflare Mobil
Compuware: Survey Shows Critical Mainframe Workloads Increasing While Mainframe Staff Losses Remain Unfilled22.3.2018 13:00 | Pressmeddelande
Many Organizations Not Measuring, Prioritizing Vital Key Performance Indicators 57 percent of enterprises with a mainframe currently run more than half of their business-critical applications on the platform-with that number expected to increase to 64 percent by next year. 72 percent of customer-facing applications are completely or very dependent on mainframe processing. Enterprises have only replaced 37 percent of the mainframe workforce lost over the past five years. Many organizations surveyed are not currently measuring velocity or efficiency key performance indicators, putting them at a disadvantage in the digital age. DETROIT, March 22, 2018 (GLOBE NEWSWIRE) -- The mainframe is becoming more important to large enterprises, with the percentage of organizations running at least half their business-critical applications on that platform expected to increase next year. However, the loss of skilled mainframe staff, and the failure to subsequently fill these positions, pose significan
Hoylu AB: HOYLU NAMED A 2018 TOP 25 COLLABORATION TECHNOLOGY COMPANY BY CIO APPLICATIONS22.3.2018 08:30 | Pressmeddelande
Malmo, Sweden, March 6, 2018 - Hoylu, a leading enterprise collaboration company today announced that CIO Applications Magazine has named Hoylu a Top 25 Collaboration Technology Company in 2018. CIO Applications presents each year the most innovative and unique companies, highlighting companies that excel in the space of Enterprise Collaboration Products and Technology. The Hoylu Product Suite allows users to collaborate quickly and easily with anyone around the world using a freeform or structured canvas and the ability to share workspaces in real time on any device. Hoylu was selected from many companies worldwide as a result of their unique approach to collaboration, which puts emphasis on the experience and putting the user first. The award recognizes Hoylu as a company at the forefront of providing innovative collaboration solutions to help companies and individuals work better and smarter together. "We are honored to be recognized among the leaders in the category of collaboratio
Hoylu AB: Hoylu ett topp 25 företag 2018 inom samarbete och teknologi utmärkelse från CIO Applications.22.3.2018 08:30 | Pressmeddelande
Malmö, 22 mars 2018 - Hoylu, ett ledande företag för samarbetslösningar, tillkännagav idag att CIO Applications Magazine har givit Hoylu utmärkelsen topp 25 inom samarbete och teknologi 2018. CIO Applications presenterar varje år de mest innovativa och unika företagen, och belyser företag som utmärker sig inom Enterprise Collaboration Products och teknologi. Hoylu Product Suite gör det möjligt för användare att samarbeta snabbt och enkelt med någon annan i en annan del av världen med hjälp av en friformad eller strukturerad duk och möjligheten att dela arbetsytor i realtid på vilken enhet som helst. Hoylu plockades ut från många företag över hela världen till följd av deras unika samarbetssätt, vilket lägger tonvikten på upplevelsen och användarupplevelsen Priset ger Hoylu ett erkännande för att vara ett företag som ligger i framkant och som erbjuder innovativa samarbetslösningar för att hjälpa företag och privatpersoner att arbeta bättre och smartare tillsammans. "Vi är hedrade att bl
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum