Valero Energy Corporation has announced the completion of its acquisition of the Meraux refinery in Louisiana from Murphy Oil USA Inc, for $325 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).
Inventories valued separately at approximately $260 million were also purchased.
“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.”
San Antonio-based Valero is the largest independent refiner in the United States, with 16 petroleum refineries, 10 ethanol plants, and a 50-megawatt wind farm.
