|By PR Newswire||
|July 30, 2014 04:16 PM EDT||
LONDON, July 30, 2014 /PRNewswire/ -- Valero Energy Ltd is strengthening its supply position in the South West after announcing that Valero Logistics UK Ltd. will triple capacity at its fuel terminal in Avonmouth, making all grades of fuel available. The multi-million pound project will see the addition of three new storage tanks, which will expand storage capacity for gasoline and diesel, as well as adding kerosene and gasoil to the range of quality Valero products available from this location.
"Since Valero's entry to the UK market, we have demonstrated our commitment to improving our ability to supply the UK market with quality fuels," said Eric Fisher, President, Valero Europe. "Through improvements in our supply chain, such as re-opening the Manchester Terminal last year and now in the expansion of Avonmouth, we are enhancing resilience and competitiveness as a long term supplier to the UK market."
The development is yet another indication of Valero's long-term commitment to operating in the UK. As well as increasing storage capacity at the site, work will also be done to upgrade the ethanol blending system.
"By upgrading in our Avonmouth site, we're building for the future, and making sure we've got more product available for both our retail and commercial customers," said Mike Lewis, Director, Product Supply. "Avonmouth's location is ideal for our commercial customers in the South West. With more product available, more flexible ethanol blending capability and reduced delivery times, our customers will benefit from resilience of supply for all grades."
Work is expected to begin in Q4 2014.
Valero Energy Ltd, a subsidiary of Valero Energy Corporation, markets fuel in the UK under the Texaco brand. There are around 800 Texaco-branded service stations in the UK. Valero Energy Ltd also owns and operates Pembroke Refinery in south west Wales, which is one of Europe's largest and most complex refineries. Directly or through subsidiaries, the company has ownership interests in four major pipelines, 6 fuel terminals and a 14,000-barrel-per-day aviation fuels business.
Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. Valero subsidiaries employ approximately 10,000 people, and assets include 15 petroleum refineries with a combined throughput capacity of approximately 2.9 million barrels per day, 11 ethanol plants with a combined production capacity of 1.3 billion gallons per year, a 50-megawatt wind farm, and renewable diesel production from a joint venture. Through subsidiaries, Valero owns the general partner of Valero Energy Partners LP (NYSE: VLP), a midstream master limited partnership. Approximately 7,400 outlets carry the Valero, Diamond Shamrock, Shamrock and Beacon brands in the United States and the Caribbean; Ultramar in Canada; and Texaco in the United Kingdom and Ireland. Valero is a Fortune 500 company based in San Antonio, Texas. Please visit www.valero.com for more information.
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