Sonatrach not in market for Valero refineries

Sat Apr 19, 2008 3:57pm EDT
 
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ROME, April 19 (Reuters) - Algeria's state oil company Sonatrach is not at present seeking to buy any of Valero Energy Corp's (VLO.N: Quote, Profile, Research, Stock Buzz) refineries, its CEO said on Saturday.

"No, not for now," Mohamed Meziame told reporters when asked if his company had an interest in buying any of the 16 refineries of the U.S. independent.

Valero, which runs a combined 3.1 million barrels per day of refining capacity, has said it was considering selling nearly a third of its plants.

Brazil's Petrobras (PETR4.SA: Quote, Profile, Research, Stock Buzz) (PBR.N: Quote, Profile, Research, Stock Buzz) has said it will resume talks with Valero this month on buying its 275,000 bpd Aruba refinery.

(Rome IEF newsroom +3906 35094254)

 

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