PetroChina Co. (PTR) is in talks to buy Valero Energy Corp's (VLO) closed 235,000 barrel-per-day refinery in Aruba, the Reuters news agency said Tuesday on its website, citing unnamed sources familiar with the negotiations.
Valero said in a filing with the U.S. Securities and Exchange Commission that it received a non-binding indication of interest to purchase the Aruba plant for $350 million plus working capital, but didn't name the interested party.
Rather than converting the plant into a storage facility, PetroChina plans to restart and run it as a refinery, the unnamed sources said in the report.
Full Story: http://www.reuters.com/article/2012/05/08/petrochina-valero-aruba-idUSL1E8G8BUH20120508
