Valero Offered US$350 Million for Idled Aruba Refinery

Abstract

Valero Energy has received an offer of $350 million for its idled Aruba refinery, and PetroChina is being described as an interested party, according to a recent Dow Jones report. Valero shut the refinery in March because of low refinery margins. In a May 8 filing with the US Securities and Exchange commission, Valero said it received a non-binding indication of interest from an unrelated interested party to purchase the Aruba Refinery for $350 million, plus working capital as of the closing date, subject to completion of due diligence and further negotiations.