Valero Signs Long-Term Agreements
to Supply Refined Products to Northern Mexico
SAN ANTONIO, May 15, 2018 – Valero Marketing and Supply de Mexico, S.A. de C.V., an indirect wholly owned subsidiary of Valero Energy Corporation (NYSE: VLO) (“Valero”), announced that it has signed long-term agreements to directly supply refined products into northern Mexico from its Corpus Christi and Three Rivers, Texas, refineries via a pipeline and terminal expansion in Nuevo Laredo, Mexico, recently announced by NuStar Energy.
This transaction enhances Valero’s existing infrastructure for supplying northern Mexico and improves the efficiency of fuel delivery into this area. The company expects to begin delivering products through this expanded facility by year-end.
“This agreement is another step in our strategy to extend Valero’s supply chain,” said Gary Simmons, Senior Vice President Marketing & Supply. “This transaction combined with our agreements to supply central Mexico demonstrates our commitment to efficiently supply gasoline and diesel to the growing Mexican markets and will further strengthen our distribution presence, including branded sales.”
In August 2017, Valero announced a long-term agreement with IEnova to import refined products at the new Port of Veracruz and distribute into central Mexico. IEnova won the Port of Veracruz’s bid for a 20-year concession to build and operate a new terminal with 1.4 million barrels of storage capacity, which has since expanded to 2.1 million barrels. In addition, IEnova is building two inland storage terminals strategically located near Puebla and Mexico City that will be supplied by rail. Valero has exclusive use of all three terminals. IEnova expects the Veracruz terminal to start operations by the end of second-quarter 2019, with the inland terminals coming online in third-quarter 2019.
Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels and other petrochemical products. Valero, a Fortune 50 company based in San Antonio, Texas, with approximately 10,000 employees, is an independent petroleum refiner and ethanol producer, and its assets include 15 petroleum refineries with a combined throughput capacity of approximately 3.1 million barrels per day and 11 ethanol plants with a combined production capacity of 1.45 billion gallons per year.
The petroleum refineries are located in the United States (“U.S.”), Canada, and the United Kingdom (“U.K.”), and the ethanol plants are located in the Mid-Continent region of the U.S. In addition, Valero owns the 2 percent general partner interest and a majority limited partner interest in Valero Energy Partners LP (“VLP”), a midstream master limited partnership. Valero sells its products in both the wholesale rack and bulk markets, and approximately 7,400 outlets carry Valero’s brand names in the U.S., Canada, the U.K., and Ireland. Please visit www.valero.com for more information.
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