Pacific Energy to pay US455-mil for Valero LP pipelines,terminals in US

摘要

Pacific Energy Partners emerged July 5 as the buyer for US455-mil of former Kaneb pipelines and terminals required for regulatory approval of Kaneb's US2.8-bil acquisition by Valero LP,the logistics arm of big US refiner Valero Energy(ON 6/1).The deal expands Pacific by 40% and moves it from mainly a handler of Rockies and California crude to be a major refined products player in the San Francisco,Philadelphia and Denver markets."This is a very important acquisition for us,"said Pacific CEO Irvin Toole.