Valero Energy Corporation VLO
today announced that due to unfavorable refinery economics and the
outlook for continued unfavorable refinery economics, refining
operations will be suspended by the end of the month at its subsidiary's
235,000 barrel-per-day refinery in Aruba. The refinery has been
operating at reduced rates because of inadequate margins resulting in
financial losses.
Over the past two years, Valero has thoroughly evaluated all of its
alternatives for the refinery and is now considering the possibility of
operating a terminal and storage operation at the site. For the
immediate future, Valero will maintain the refinery in a state that
would allow a restart.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in