Reuters MEXICO CITY/NEW YORK – Latin American demand for refined products is rapidly drying up as the coronavirus pandemic worsens, leaving U.S. refiners without their main export destination. The crisis has nearly shut down worldwide air travel and fuel demand, which is expected to fall between 10% and 36% in Latin America through the first half of the year. Although
Reuters HOUSTON – Independent U.S. refiner Valero Energy Corp plans for its 15 refineries to operate up to 91% of their combined capacity of 3.13 million barrels per day (bpd), said Homer Bhullar, vice president of investor relations, in a Thursday conference call. Valero’s eight U.S. Gulf Coast refineries will set the pace for the company with plans to operate
Oil and Gas 360 SAN ANTONIO, Jan. 24, 2020 (GLOBE NEWSWIRE) — Valero Energy Corporation (NYSE: VLO, “Valero”) announced today that Valero’s Board of Directors have approved promotions for Lane Riggs, Gary Simmons and Eric Fisher, effective January 23, 2020. Lane Riggs has been promoted and elected President of Valero and will hold the title of President and Chief Operating Officer,
From The Houston Chronicle A bevy of right-wing groups are asking the Trump administration not to intercede on behalf of the Venezuelan opposition government to keep Citgo Petroleum from being seized and auctioned. The Houston-based refiner Citgo is owned by Venezuela’s state oil company, and it’s considered a valuable asset to help Venezuela rebuild if there’s regime change in favor
Valero Energy Corporation and Valero Energy Partners LP Announce Definitive Merger Agreement; Valero Energy Partners LP Declares Quarterly Distribution
Tesoro and Valero bright-spots on S&P500 Energy Index The outlook for the refining sector continues to be a bright spot in an otherwise gloomy outlook for the energy industry. While E&Ps look for the best ways to cut costs amid the continued low oil prices, refineries are enjoying stronger margins on cheaper feedstock. In August, gross inputs to U.S. refineries
Expects to Significantly Expand its Midstream Business Long Term Valero Energy (ticker: VLO), the largest refiner in the United States with throughput capacity of 2.90 MMBOPD, reported net income of $964 million, or $1.87 per share, in its Q1’15 results on April 28, 2015. The results are a record for VLO’s first quarter operations and are 16% higher than Q1’14
Valero Energy Partners LP Increases Quarterly Cash Distribution by 4.3 Percent The Board of Directors of Valero Energy Partners GP LLC, the general partner of Valero Energy Partners LP (NYSE: VLP, the Partnership), has approved the Partnership’s first quarter 2015 cash distribution of $0.2775 per unit. This distribution represents a 4.3 percent increase over the Partnership’s previous quarterly distribution and
Despite the tumbling price of oil, Valero looks to sustain expenditures and continue to grow dividends Valero (ticker: VLO), the world’s largest independent refiner, released a presentation last week setting the company’s many objectives for 2015. In the face of the challenging market, Valero has implemented goals to maintain capital expenditures and grow dividends next year. In the company’s presentation,
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