Valero acquires two Chevron product terminals in Kentucky
Valero Terminaling and Distribution Co., a subsidiary of Valero, has successfully completed the acquisition of Chevron’s product terminals in Louisville and Lexington, Ky., for an undisclosed amount.
Valero has also acquired Chevron’s minority interest in the LouLex Pipeline system, which connects the two terminal facilities, it said.The terminals began operating under Valero on June 25..
The Louisville terminal receives its products from waterborne barge and pipeline deliveries. It has 10 tanks totaling approximately 500,000 bbl of in-service storage.
Meanwhile, Lexington’s inbound products arrive from the LouLex Pipeline system, and the terminal includes six tanks totaling approximately 130,000 bbl of in-service storage.
Both terminals are capable of supplying ethanol-blended gasoline.
The ownership and operation of these bulk petroleum storage and distribution facilities will enable Valero to expand its wholesale marketing presence in eastern Kentucky with product supplied primarily from the Valero Memphis refinery, it said.
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