PetroChina is in talks to buy Valero Energys shuttered
235,000 bpd refinery in Aruba, news agency Reuters
reported on Wednesday.
Valero said in a filing
with the US Securities and Exchange Commission that it had
received an offer of $350 million for Aruba refinery it has been trying to sell
However, the company did not identify the potential buyer,
saying only that it had experience in the refining and marketing industry.
"Due diligence process is currently ongoing and no final
agreement has been reached to sell the refinery," Valero said in the
Citing anonymous sources, Reuters reported that
PetroChina was indeed the potential buyer, noting that it was
the second time in two years that the Chinese company had
discussed the purchase of the plant.
The Aruba plant, which only partially refines crude oil, has
repeatedly posted losses for Valero.
However, Chinese energy majors are pushing into overseas
operations after struggling at home due to state-controlled oil
products prices, Reuters said.
After a January restart, Valero suspended operations at the
Aruba refinery in March, citing poor