Valero Energy Corp. telah menyetujui untuk menjual 50% indirect interestnya di 380 mil pipeline minyak Cameron Highway di Teluk Mexico kepada Genesis Energy LP, Houston.
Valero Chairman and Chief Executive Officer Bill Klesse said the sale is part of the refining companyâ€™s strategy to divest noncore assets.
Genesis is a midstream master limited partnership with businesses in oil and carbon-dioxide pipelines, refinery services (mainly sulfur removal), supply and logistics, and industrial gases.
The pipeline, built in 2004 and owned by Cameron Highway Oil Pipeline Co., carries production from deepwater fields in the southern Green Canyon area off Louisiana to refineries in Texas City and Port Arthur, Tex. It originates at the Ship Shoal 332 A/B Hub as a 30-in. line and splits into two 24-in. lines. Its capacity is about 500,000 b/d of crude oil.
Enterprise Products Partners LP holds the other 50% interest in the holding company and operates the pipeline.