It has struck a new long-term lease at its Port of Cardiff terminal operation with Associated British Ports

One of the world’s biggest independent petroleum refiners, Valero, has committed to its Port of Cardiff operation for the long-term.

The company has agreed a new long-term lease with the port’s owner Association British Port’s for its 12-acre liquid fuels terminal at Roath Dock, the largest such facility at the Port of Cardiff.

The deal safeguards skilled jobs on site and supports the supply of fuel for households, businesses, airports and commercial fleets across South Wales, the south west of England and the M4 and M5 corridors. It also takes thousands of HGV’s off the road network by linking Valero’s Pembroke refinery with Cardiff by vessels accessing coastal shipping routes.

Valero, as operated at Cardiff since 1996 and continues to invest in the terminal to support significant annual throughput by sea. The new agreement provides certainty for long-term operations, while enabling further investment to extend the life and resilience of critical energy infrastructure.

As part of the long-term lease ABP will invest in port infrastructure to further support Valero’s forward investment programme. The agreement is expected to generate long-term economic value for the port while strengthening Cardiff’s role as a strategically important energy gateway

Richard Butler, lead commercial manager at ABP, said: We are delighted to extend our partnership with Valero at the Port of Cardiff, supporting vital fuel supplies and critical jobs across South Wales for decades to come.

“This new agreement with demonstrates our shared commitment to support regional economic activity and ensuring the Cardiff City Region continues to benefit from reliable access to essential energy supplies.

“This investment also reflects ABP’s long-term confidence in Cardiff and our role in supporting the UK’s energy security.”

The Port of Cardiff is one of ABP’s key ports in South Wales as a hub for energy, bulk and general cargoes.

The NFO market remained subdued. Of the 13 funds launched in May, 12 of them were from the passive space (Index as well as ETF). Together, they garnered net assets worth 471 cores highlighting investors cautious stance by not going overboard, said Himanshu Srivastava, Principal, Manager Research, Morningstar Investment Research India.

The annual celebration of the best businesses in the Humber area will take place on November 19

Hull and East Yorkshire Business Awards are back for 2026, with a double award winner from last year’s silver anniversary spectacular now helping shape its future success.

Since an emphatic evening at the gala celebration in November, Beverley Leisure Homes managing director David Hall has been elected as chair of headline partner For Entrepreneurs Only, the Hull-based leadership support organisation.

The royally-recognised group joined forces with talent entrepreneur Simon Jones and events specialist Jane Smallwood in 2025, with Mr Hall now committing the past Queen’s Award winner for the long term.

He said “FEO should be associated with the biggest events as we are one of the biggest business organisations out there. Simon has really given it a different feel, injecting his youthful enthusiasm, so it is good for FEO to ensure that support is there. I see it as a long-term relationship between FEO and Hull and East Yorkshire Business Awards, and as a partnership we’re learning together. There’s a drive from both organisations to make what they do better each year.”

Mr Jones, who is behind the acclaimed Top 30 Under 30 programme, is preparing for the third edition of the awards under his watch, and the 26th since it was launched by the Hull Daily Mail. Last year saw a 45% increase in entries across the 12 categories.

And the winning experience has fired up Mr Hall when it comes to the Hull and East Yorkshire Business Awards, having been named Entrepreneur of the Year while his Beverley Leisure Homes company was recognised as Small Business of the Year. He said: “I didn’t realise quite how important these events were, for the business and for the team. We spend so much time in an industry bubble, where we’re quite well known, but we were all inspired by what we saw from the local business community.

“To win was fantastic for the business too. The awards sit next to our signing-in book in our reception, so whether it is a couple coming to look at a new lodge or someone selling insurance, they know we have won. They are great talking points, and with the industry having been in quite a negative place over the past few years, to have such a positive story is a refreshing change for us. It was a focal point for the business year.”

Three major new partners are also on board for 2026, with BAE Systems, H&H Comms and Siemens Gamesa joining the existing backers.

Businesses across Hull and East Yorkshire are now being invited to elevate themselves in such a manner, with entries for 2026 now open.

Mr Jones said: “It was a big step forward last year. We are building confidence in the awards, and we need to celebrate and provide that platform.

“It is more important than ever, that we celebrate success as a business community. We are all facing challenges, we all know it is not easy out there, that’s why good news, making a difference and growing and trying things against the tide is really something to shout about. We need to showcase what is possible in difficult times. It is easy to say ‘not now’ when things are tough, it gives us excuses for not doing things and not being bold. We need more people to be bold and brave, not less.”

The entry window closes on September 18, with the gala celebration on November 19 at DoubleTree by Hilton Hotel in Hull. Full details of how to enter and the criteria for each category can be found on the website – www.heybusinessawards.co.uk

This year’s award categories are:

Lifetime Achievement Award

Start-Up Business of the Year (Less than two years old)

Small Business of the Year (Less than 50 employees)

Best Place to Work

Environmental & Sustainability Award

Charity of the Year

Innovation Award

Entrepreneur of the Year

Team of the Year

Large Business of the Year

Growth Award

Rising Star

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The rupee closed at 95.2650 per dollar, up marginally compared to its ‌close of ⁠95.35 in ⁠the previous session.

The local currency oscillated between 95.11 and 95.56 over the course of the trading session. State-run banks were spotted offering dollars and conducting dollar-rupee buy/sell swaps, most likely on behalf of the Reserve Bank of India, traders said.

Brent oil prices steadied near $90 per barrel on Wednesday after swinging between $98 and $89 per barrel over ⁠the previous ‌two sessions.

Iran’s Revolutionary Guards said they had carried ​out missile ​and drone attacks on U.S. military bases in ⁠Jordan, Kuwait and Bahrain on Wednesday in retaliation for ​American strikes on Iranian targets around the Strait ​of Hormuz.

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“The initial market response to renewed military strikes between Iran and the U.S. has been relatively muted suggesting confidence that the fallout will be contained,” MUFG said in a note.
The escalation in violence though deepens doubts about the prospects for a deal ‌to end the war that started on February 28 and has sparked the most severe oil supply disruption ​in history, ​clouding the outlook ⁠for energy importing economies like India.Later in the day, the focus will turn to the release of U.S. consumer inflation data for May. The data is expected to show that CPI rose 4.2% year-on-year last month, up from 3.8% in April.

“With the distribution of outcomes unusually wide, today’s CPI release carries heightened potential for outsized market moves relative to recent data prints,” per MUFG.