September 26, 2011 [OPIS] - Vecenergy has bought and will take over Chevron's 150,000-bbl capacity Albuquerque, N.M., oil products terminal on Tuesday.
That Albuquerque terminal has been on the market for sale since last year. OPIS reported in February 2010 that Chevron identified refined products terminals in nine U.S. states for sale. The terminals that remained on the market include Albuquerque, N.M.; Anchorage, Alaska; Arcadia, La.; Lexington, Ky.; Macon, Ga.; and Montgomery, Ala., as of end of 2010.
Vecenergy, a Florida-based logistics company, will shut that Southwest terminal temporarily for two days from 2 p.m. Tuesday to 2 p.m. Thursday. The brief shutdown is due to the impending change of ownership.
The new Vecenergy terminal competes with terminals operated by Western, HollyFrontier, ConocoPhillips and Nustar in Albuquerque and surrounding areas. HollyFrontier advised its customers to move their products liftings temporarily to its Moriarty terminal, east of Albuquerque.
It is normal for regional terminals to use other nearby facilities as a back-up in an event of supply outages or shortages.
Vecenergy is the Vecellio Group’s energy division. It operates a liquid asphalt terminal at the Port of Palm Beach in South Florida, and the division has grown to include petroleum storage and distribution facilities at the Port of Palm Beach and Port Everglades in Florida, and in Montgomery, Ala., and Macon, Ga., totaling more than 2 million barrels of storage. Growth into other markets is also underway.
