(BOE Report) – Valero Energy Corp has shut its 380,000-barrel-per-day (bpd) oil refinery in Port Arthur, Texas, following an explosion and fire at a diesel hydrotreater unit, people familiar with the plant operations said on Monday. The explosion at the 47,000-bpd 243-diesel hydrotreater unit rocked the region in east Texas on the Louisiana border, the sources said, with the blast
Oil Price One of the largest U.S. refiners, Valero Energy (NYSE: VLO), saw its adjusted net income more than halve in the first quarter compared to a year earlier, but earnings nevertheless beat the analyst consensus estimate amid tight crude supplies at the start of this year. Valero opened the earnings reporting season on Thursday, announcing an adjusted net income of $1.3
Oil and Gas 360 January 25, 2024 Reported net income attributable to Valero stockholders of $1.2 billion, or $3.55 per share, for the fourth quarter and $8.8 billion, or $24.92 per share, for the year Reported adjusted net income attributable to Valero stockholders of $8.8 billion, or $24.90 per share, for the year Returned $1.3 billion to stockholders through dividends
Oil Price Major U.S. refiner Valero Energy (NYSE: VLO) reported on Tuesday third-quarter earnings above analyst expectations, thanks to strong product demand exceeding 2019 levels and solid refining fundamentals in the U.S. and worldwide. Valero, which launched the earnings season for U.S. refiners today, said its adjusted net income surged to $2.8 billion, or $7.14 per share, for the third quarter,
World Oil (Bloomberg) — Valero Energy Corp.’s trading division was the largest buyer of crude oil in the Biden administration’s second sale of emergency stocks that were part of the White House’s efforts to combat surging energy prices after Russia invaded Ukraine. Twelve companies were awarded all of the 30 million barrels of oil offered from the Strategic Petroleum Reserve, the Energy
Reuters WASHINGTON – The U.S. government has agreed to sell crude oil from the nation’s emergency reserve to eight companies including Exxon, Chevron and Valero, under a scheduled auction to raise money for the U.S. budget, the Department of Energy said. The sales were not related to energy disruptions caused by Hurricane Ida that swept the U.S. Gulf of Mexico
Reported net income attributable to Valero stockholders of $162 million, or $0.39 per…
Reported a net loss attributable to Valero stockholders of $704 million, or $1.73 per…
Reuters U.S. refiner Valero Energy Corp on Thursday warned that its first-quarter loss would exceed the previous three months, joining the ranks of energy firms hit hard by the severe winter storm in Texas in February. The cold wave in U.S. central and southern states has disrupted power and gas supply and knocked refineries, oil production and chemical plants out
Reuters CHICAGO/BEIJING – China has bought “roughly 200 million gallons” of U.S. ethanol for the first half of 2021, matching its previous record for annual imports of the corn-based biofuel, Archer Daniels Midland Co Chief Financial Officer Ray Young said on Tuesday. The accelerated imports are among several positive signs for the ethanol sector which has been hard hit by
Reuters HOUSTON – Energy companies are moving to cut production at U.S. Gulf Coast oil refineries after shutting half the area’s offshore crude oil output ahead of back-to-back storms aiming for the coast this week. Tropical Storms Marco and Laura, a rare double-team approach to the U.S. Gulf Coast, threaten days of heavy rains and strong winds this week. Producers
Reuters U.S. oil refiners this quarter are expected to spend the most since at least 2018 to meet U.S. biofuels requirements, further pressuring margins hit by the collapse since March in global prices and demand. Under renewable fuel legislation originally aimed to support corn farmers, refiners have to blend biofuels like ethanol or diesel made from animal fats or vegetable
