Valero Energy Corp. and a unit of BlackRock Inc. are teaming up with Navigator Energy Services to develop an industrial-scale pipeline to gather, transport and store carbon dioxide (CO2) emissions from sites in five Midwest states. San Antonio-based Valero agreed to anchor the carbon capture and storage (CCS) system with a unit of the giant…
Articles from Valero
Plains’ Proposed Diamond Pipeline to Supply Crude to Valero Refinery
Plains All American Pipeline LP plans to build a pipeline to transport crude oil produced in the Permian Basin, Bakken Shale and the Midcontinent from its terminal in Oklahoma to a Valero Energy Corp. refinery in Memphis, TN.
El Paso Corp. has closed on the sale of its Aruba refinery and related marine, bunkering, and marketing affiliates to Valero Energy Corp. for $465 million plus $162 million for working capital. In connection with closing, El Paso retired a $366 million lease financing associated with the refinery. The sale supports El Paso’s long-range plan to reduce the company’s total debt, net of cash, to approximately $15 billion by year-end 2005. So far, the company has announced or closed $2.9 billion of the $3.3 billion to $3.9 billion of asset sales targeted under the plan.