May 10th, 2012 | Global Times PetroChina to buy plant
PetroChina Co is in talks to buy Valero Energy’s shuttered refinery in Aruba, sources said Wednesday.
In a filing with the US Securities and Exchange Commission, Valero said it had received a non-binding indication of interest for the 235,000 barrels-per-day Aruba plant for $350 million plus working capital, but did not identify the interested party.
Sources familiar with the negotiations said the approach had been made by PetroChina. It was the second time in two years the Chinese company had discussed the purchase of the plant, which is located near Venezuela, China’s fourth largest crude supplier, sources said.