Valero Logistics UK, a subsidiary of Valero Energy Corporation, has completed the purchase of DCC Energy’s fuel storage terminal in Belfast.
With the purchase of DCC’s terminal, Valero will now have equity storage in Belfast, a platform from which the company can strengthen its supply position in Northern Ireland.
Mike Lewis, Valero’s vice president Europe product supply, said: “It was a natural step for us to buy DCC’s terminal. It anchors us in the Northern Ireland market and reinforces our long-term commitment to our customers there. It will give us added flexibility and will ensure we can continue to deliver a competitive and reliable service.”
Valero has been using the DCC fuel storage terminal and the nearby NuStar terminal to supply its Northern Ireland customers, and will continue to use both terminals to supply fuel for the foreseeable future.
“The two terminals will act as twin platforms from which we can provide our customers with a reliable supply of fuel,” Lewis said.
“For our existing customers, the change of ownership will be seamless - business as usual - while any new customers can feel confident they’ll get a reliable service, backed by the robust Valero supply chain centred on our refinery in Wales,” Lewis.
The fuel terminal has ten storage tanks for fuel oil and distillates. Valero owns a refinery in Pembroke, South Wales.