Valero Acquires Two Product Terminals From Chevron

SAN ANTONIO -- Valero Energy Corp. subsidiary, Valero Terminalling and Distribution Co., completed its purchase of Chevron USA Inc.'s product terminals in Louisville and Lexington, Ky. The purchase price was not disclosed. The terminals began operating under the Valero name on Saturday.

Valero also acquired Chevron's minority interest in the LouLex Pipeline System, which connects the two terminals. According to a press release from Valero, the ownership and operation of the bulk petroleum storage and distribution facilities will enable the company to “expand its wholesale marketing presence in eastern Kentucky with product supplied primarily from the Valero Memphis Refinery."

The Louisville terminal has 10 tanks, totaling about 500,000 barrels of in-service storage. The Lexington terminal includes six tanks, totaling approximately 130,000 barrels of in-service storage.