New York —Two of the remaining refinery holdouts have moved forward on plans to create master limited partnerships for their logistics assets. Independent refiner Valero Energy plans to launch an MLP for its logistics in the first quarter of 2014, CEO Bill Klesse said Thursday. “We are positioned to drop into an MLP,” said Klesse, addressing attendees at Barclays’ CEO Energy-Power Conference. He said Valero did not have board approval yet for what has become a growing trend among US refiners. This will be the company’s second MLP. Its first was the midstream MLP launched in 2006, which became NuStar Energy.
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