Valero Energy (NYSE:VLO) has decided to join hands with Kinder Morgan to build an 136 mile pipeline.
Valero Energy (NYSE:VLO) Building Big New Pipeline
San Antonio based multinational manufacturer and marketer of transportation fuel and petrochemical products, Valero Energy (NYSE:VLO), has decided to join hands with Houston based Kinder Morgan from the petroleum hub at Collins to the refineries of Norco, La., which will carry transport gasoline, jet fuel and diesel from refineries to the hub.
In the initial phase, 110,000 barrels of liquid fuels will be carried through the pipeline and later it will be expanded to 200,000 barrels a day.
Valero Energy (NYSE:VLO) stocks were at 21.96 at the end of the last day’s trading. There’s been a -12.6% movement in the stock price over the past 3 months.