Downstream Report

Valero Energy Partners Announces Acquisition of McKee Terminals for $240 Million

Valero Energy Partners announced that the acquisition of the McKee Terminal Services Business from a subsidiary of Valero Energy Corporation for total consideration of $240 million.

  • Valero PR
  • March 23, 2016
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Reuters/Mike Blake

Tesoro, Par Hawaii settle with U.S. over air quality violations

Tesoro and Par Hawaii Refining reached a $425 million settlement with the United States to resolve air quality violations at six refineries in Western states. The accord requires the companies to invest $403 million in new equipment to better control air emissions at operations in Alaska, Northern California, North Dakota, Utah, Hawaii and Washington.

  • Reuters - Valerie Volcovici and Sarah N. Lynch
  • July 18, 2016
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Casper Star Tribune

Par Pacific Holdings to Acquire Wyoming Refining and Related Logistics Assets

Par Pacific Holdings, Inc. announced today that it has entered into an agreement to acquire the Wyoming Refining Company for approximately $271.4 million, including the assumption of $58 million of indebtedness. Wyoming Refining owns and operates the 18,000 barrels per day (bpd) in Newcastle, Wyoming.

  • PRNewswire
  • June 14, 2016
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Billings County okays Meridian Energy Group’s Davis Refinery

Meridian Energy Group Inc. has received zoning and permit approval from the Billings County Commission for its proposed 55,000 barrel per day Davis Refinery near Fryburg, North Dakota. Following a public hearing before the Billings County Planning and Zoning Board earlier this month, the California company received unanimous approval from the commission for a zoning certificate and a conditional use permit for the facility.

  • Meridian Energy Group PR
  • July 15, 2016
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Chevron Approves Next Major Tengiz Expansion Project in Kazakhstan

Chevron to expand the Tengiz Project. The project will raise TCO’s total production to approximately 1 million barrels of oil equivalent per day. WPMP maximizes the value of existing TCO facilities by extending the production plateau and keeping existing plants producing at full capacity.

  • Chevron PR
  • July 5, 2015
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PBF Energy buys Torrance refinery

PBF Energy Inc (PBF.N) agreed to buy Exxon Mobil Corp's (XOM.N) refinery in Torrance, California, for $537.5 million, completing Executive Chairman Tom O'Malley's vision to have PBF plants coast to coast. PBF has expanded its capacity by about 60 percent and will be able to process 900,000 barrels of crude a day after it closes on the 155,000 bpd Torrance refinery.

  • Reuters
  • September 30, 2015
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Valero Starting New Crude Unit at Corpus Christi Refinery

Valero Energy Corp is starting up a new crude unit at the Corpus Christi Refinery. The $350 million, 70,000 barrels-per-day unit at the company's 205,000 bpd Corpus Christi refinery will enable the refinery to run lighter crudes.

  • Reuters - Kristen Hays
  • December 14, 2015
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NOVATEK makes first LNG shipment from Trinidad & Tobago

OAO NOVATEK (“NOVATEK”) announced today that Novatek Gas & Power, a wholly owned trading subsidiary of NOVATEK, has supplied its first LNG cargo sourced from the Trinidad & Tobago LNG plant, to Chile, port Quintero.

  • July 7, 2016
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Devon Energy announced it will sell its 50 percent ownership in Access Pipeline to Wolf Midstream

Devon Energy announced that it has entered into an agreement to sell its 50 percent ownership interest in Access Pipeline to Wolf Midstream Inc., a portfolio company of Canada Pension Plan Investment Board, for CAD $1.4 billion.

  • Devon Energy
  • July 14, 2016
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Southern Company, Kinder Morgan Enter Southern Natural Gas Pipeline Strategic Venture

Southern Company and Kinder Morgan announced a natural gas pipeline venture through Southern Company’s acquisition of a 50 percent equity interest in the Southern Natural Gas (SNG) pipeline system. Kinder Morgan will continue to operate the system.

  • Southern Company PR
  • July 10, 2016
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