U.S. refiner Valero Energy Corp (VLO.N) has reached an agreement to buy Chevron Corp's (CVX.N) Pembroke refinery in Wales for around $2 billion, according to a source familiar with the matter. Chevron put its 210,000 barrel per day Pembroke refinery on sale last year as part of a decision to lower its exposure to the refining business. Pembroke would be Valero's first refinery in Europe after its attempt to buy Total's (TOTF.PA) stake in a Dutch plant was thwarted by Russia's Lukoil (LKOH.MM) in 2009.
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