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Valero Eyes $1.5B Chevron U.K. Refinery

Chevron is in discussions with Valero Energy for a possible sale of its U.K. refinery.

    Chevronis in discussions withValero Energyfor a possible sale of its U.K. refinery,Bloombergreports. The Texas-based oil refiner has offered around $1 billion to $1.5 billion for the Pembroke refinery in Wales.

    The California-based energy company is planning to sell its refineries to cut debt and redeploy spending to oil exploration and development. The deal is expected to be completed next month.

    Click here for the story fromBloomberg.

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