Valero acquires Telfer asphalt terminal, storage facility

Jan 9, 2003 12:00 PM

Valero LP, San Antonio TX, has purchased an asphalt terminal and storage facility near Benicia CA for $15 million from Telfer Oil Company, a privately owned regional asphalt marketer. Telfer Oil has retained, and will continue to operate, its other businesses related to the manufacture and distribution of asphalt, according to company information.

The terminal and storage facilities, which are located in Pittsburg CA, have a current storage capacity of 350,000 barrels and serve the Northern California asphalt market. The terminal also includes a polymer modified asphalt plant with six, 5,000-barrel tanks and a laboratory.

Valero LP owns and operates crude oil and refined product pipelines and refined product terminals primarily in Texas, New Mexico, Colorado, and Oklahoma.