Petrobras seems to be to potential buyer of Valero Aruba refinery.
After a visited of management of petrobras this week (December 03 to 05) it seems that petrobras will buy the Aruba refinery they were very impressed with the presentation of the Aruba management and also of the future project .The other obstacle will be the price that they need to pay for the refinery with will be decided in the next upcomiming weeks. From what we at Aruba can see is that there will be announced in the first two weeks of January -2008.
Petrobras & COP are only early contendors for Aruba that now list several interested parties.
And the Aruba refinery may not necessarily be sold, Day said, as the company would consider a joint venture. Other companies thought to be interested in the Aruba refinery are Alon USA Energy Inc, Citgo Petroleum Corp, Delek U.S. Holdings Inc, Lukoil and Tesoro Corp . <Also might want to remember that Petrobras & PdVSA made failed attempt to buy Aruba back in 1997 that was rebuffed.>
See earlier news items on Valero Aruba sale – and Here is link to Reuters Nov 13 Article with lead mention of COP & Petrobras on the Sales Update (So far none of players are giving out comments): http://www.reuters.com/article/companyNewsAndPR/idUSN1360183320071113?pageNumber=1&virtualBrandChannel=0
FYI – article also mentions sale potentional (as did earlier coking.com news on sale) that Valero has land locked refineries at Ardmore (85 MBD) , Mckee (170 MBD), Krotz Springs (85MBD), Paulsboro (170 MBD) & Memphis (190 MBD) on the sale block as well.