Valero acquires Kaneb Services, Pipe Line
Jul 8, 2005 2:32 PM
Valero LP, San Antonio TX, has acquired Kaneb Services LLC and Kaneb Pipe Line Partners LP.
With an enterprise value of more than $4 billion, the acquisition includes approximately 9,150 miles of pipeline comprised of approximately 6,350 miles of refined product pipelines, 800 miles of crude oil pipelines, and a 2,000-mile anhydrous ammonia pipeline.
The partnership also owns 94 terminal facilities and four crude oil storage tank facilities located in 25 US states, Canada, Mexico, the Netherlands Antilles, the Netherlands, Australia, New Zealand, and the United Kingdom.
The system has approximately 77.6 million barrels of storage capacity.
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