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San Antonio-Based Valero Energy Signs Deal for Aruba Refinery.

By Bill Day, San Antonio Express-News Knight Ridder/Tribune Business News

Feb. 5--Valero Energy Corp. announced Wednesday that it had signed a long-anticipated agreement to buy an El Paso Corp. oil refinery in Aruba for $365 million.

The San Antonio-based petroleum refiner and marketer has been in negotiations to buy the 315,000 barrel-per-day Aruba refinery since at least last July. The refinery, Valero's 15th, expands the company's refining capacity to 2.4 million barrels per day.

Valero wanted the refinery in part because it processes cheap

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