Valero Energy will sell its 50% indirect equity interest in the Cameron Highway Oil Pipeline to Genesis Energy for $330m.
The firm has owned its interest in Cameron Highway since the Gulf of Mexico pipeline system was constructed in 2004.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Valero chairman and CEO Bill Klesse said that the sale is part of its ongoing strategy of divesting non-core assets.
The sale is expected to close in the fourth quarter of the year.
