Ok – tracked down San Antonio version of Reliance-Valero article. Lot denial/lack confirmation Valero side. And still doesnt make any sense for Reliance to make move on Valero …….. outside same reason it made move on UK refinery to find/make export market for its India products that could come into base operation as unfinished / intermediate product.
< Still I wonder if British news got confused about the UK buys both made – Essar boughht Stanlow refinery about same time Valero bought Pembroke refinery & were linked headlines that read like it was some sort joint deal?>
Reliance has be strapped with cost: 1) doubling plant / competion of its Export refinery that had turn products back towards its own domestic markets instead export due global demand drop & 2) with new debt load from EU Stanlow Refinery ( use backdoor way export India product as feedstock into EU products market).
Also Reliance is Petrochemical “really” integrated refinery (crude/refinery/petchems/power/ect) – and Valero is anything but so not lot synergy along that line either.
Regards