India’s Essar said on Monday it has completed its $350 million acquisition of the 296,000 b/d Stanlow refinery in the UK from Shell, while US-based independent refiner Valero Energy said it had wrapped up its purchase of Chevron’s 220,000 b/d Pembroke refinery in Wales. The Texas-based company said it acquired the Chevron refinery, as well as over 1,000 Texaco-branded retail outlets and other marketing and logistics assets in the UK and Ireland, for $730 million in cash, excluding working capital. Including associated capital and inventories, the whole deal has been valued at $1.7 billion.
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