Valero Energy (NYSE:VLO) has readied itself to buy Chevron’s U.K. refinery for $2 billion.

Valero Energy (NYSE:VLO) Ready To Buy

The largest U.S. oil refiner Valero Energy (NYSE:VLO) is said to have plans to own Chevron Corp. (NYSE:CVX)’s U.K. refinery for about $2 billion.

Chevron was searching for a buyer for the Pembroke refinery in Wales for almost a year. An announcement regarding this deal is expected to be delivered by Thursday morning.

Valero Energy (NYSE:VLO) has not purchased a refinery since its acquisition of Premcor Inc. in 2005.

“I can say that we’ve been very explicit about our desire to explore our options in Europe,” said Bill Day, a spokesman for San Antonio-based Valero Energy (NYSE:VLO).

Valero Energy (NYSE:VLO) shares are currently standing at 27.71.

Price History
Last Price: 27.71
52 Week Low / High: 15.49 / 30.42
50 Day Moving Average: 26.02
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12 Month Price Change %: 38.6%