Valero Completes Purchase of Two Fuel Terminals

Valero Terminalling and Distribution Co., a subsidiary of Valero Energy Corp., has successfully completed the acquisition of Chevron USA Inc.’s Louisville and Lexington, Ky. product terminals for an undisclosed amount, company officials announced today. Valero has also acquired Chevron’s minority interest in the LouLex Pipeline system, which connects the two terminal facilities. The terminals began operating under Valero on Saturday, June 25.

The Louisville terminal receives its products from waterborne barge and pipeline deliveries. It has 10 tanks totaling approximately 500,000 barrels of in-service storage. Lexington’s inbound products arrive from the LouLex Pipeline system, and the terminal includes six tanks totaling approximately 130,000 barrels of in-service storage. Both terminals are capable of supplying ethanol-blended gasoline.

The ownership and operation of these bulk petroleum storage and distribution facilities will enable Valero to expand its wholesale marketing presence in eastern Kentucky with product supplied primarily from the Valero Memphis Refinery.

About Valero:
Valero Energy Corporation is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. Its assets include 14 petroleum refineries with a combined throughput capacity of approximately 2.6 million barrels per day, 10 ethanol plants with a combined production capacity of 1.1 billion gallons per year, and a 50-megawatt wind farm. Valero is also one of the largest retail operators with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under the Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon brands. Based in San Antonio, Valero is a Fortune 500 company with approximately 20,000 employees. Please visit www.valero.com for more information.