| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
- |
| Employees |
200 |
| Revenues (TTM) (Millions $) |
1,174 |
| Net Income (TTM) (Millions $) |
264 |
| Cash Flow (TTM) (Millions $) |
110 |
| Capital Exp. (TTM) (Millions $) |
24 |
Business Description
Valero Energy Partners LP is a publicly traded master limited partnership (MLP) that was established in 2013 by Valero Energy Corporation, one of the largest independent petroleum refiners in the United States. The company was created to own, operate, develop and acquire crude oil and refined petroleum products pipelines, terminals and other transportation and logistics assets.
Valero Energy Partners' business is focused on providing logistic services to Valero Energy Corporation's refining, marketing and logistics operations. This means that their main customers are Valero Energy Corporation and its subsidiaries, although the company also provides services to other customers, such as third-party shippers or end-users.
The partnership's assets include 10 crude oil and refined products terminals and pipelines, which are located in Texas, Louisiana, Tennessee and Arkansas. In addition to these assets, the company also holds a 40% interest in the Parkway Pipeline, which is a 70-mile long crude oil pipeline that connects Valero's refinery in Memphis, Tennessee to the Capline Pipeline in Louisiana.
Valero Energy Partners operates under a fee-based business model, which means that the partnership derives the majority of its revenue from fixed-rate contracts with its customers. This makes its revenue stream more predictable and less exposed to commodity price fluctuations.
Since its inception, Valero Energy Partners has grown rapidly through acquisitions and organic growth. The partnership's growth strategy is focused on acquiring assets from its parent company Valero Energy Corporation, as well as from third parties, that are strategically located and complement its existing assets.
In 2018, Valero Energy Partners agreed to be acquired by Plains All American Pipeline for $950 million. The acquisition was completed in April 2019, and Valero Energy Partners became a wholly owned subsidiary of Plains All American Pipeline.
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