July 11, 2012 [OPIS] - Valero is close to a deal to acquire a key terminal in Jacksonville, Fla., OPIS has learned. The facility could be a springboard in pushing Valero branded and unbranded sales in Florida and Georgia.
The terminal, with approximately 433,000 bbl worth of clean products tankage, is currently owned by Chevron. Chevron acknowledges that they have been looking for buyers for the facility, but a spokesman said that “many details associated with potential sales transactions” have yet to be worked out. The company declined to mention whether any specific companies had bid on the tank farm.
A Valero spokesperson wouldn’t comment on whether it was interested in the terminal. However, the company has indicated in past meetings with jobbers that it is interested in purchasing terminals as a gateway for more branded product on the East Coast and in other markets.
In addition to its hefty Gulf Coast refining capacity, Valero now operates a former Chevron refinery in Pembroke, Wales, U.K. that is capable of sending gasoline and other clean products to the U.S. East Coast.
