The refineries in Aruba, Memphis, Tennessee; Krotz Springs, Louisiana; and Ardmore, Oklahoma are the ones that could possibly be sold.
Mr Klesse maintained that a decision on the likely sale of the 195,000 barrels per day Paulsboro, New Jersey refinery will be made before the fourth quarter of 2008. He added that the sale of this refinery will probably be completed in 2009.
According to sources, Petrobras has an agreement to buy the Aruba refinery for approximately $2.8 billion. Valero is in talks with bidders for both the Memphis and Krotz Springs refineries. Leucadia National and Tesoro are understood to be among the bidders for the two refineries in a package deal. Valero has refused to make any statement in this regard.
