Valero Energy To Suspend Refining Operations At Aruba

Valero Energy Corporation

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.