PetroChina reported to be in talks to buy Aruba refinery from Valero Energy

PetroChina Co. Ltd., Asia’s largest oil and gas producer which has made several overseas refinery acquisitions over the past few years, is said to be in talks to buy Valero Energy’s refinery in Aruba, Reuters reported. In a filing with the U.S. Securities and Exchange Commission, Valero said it had received a non-binding indication of interest for the 235,000 barrel-per-day plant for US$350 million plus working capital, but did not identify the interested party. A local media website, Amigoe, reported that PetroChina signed a memorandum of understanding with the government of Aruba on April 30, but details of the deal had not been made public yet. (May 19, 2012)