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Buys Aruba Refinery for $640M
"The sale of the Aruba refinery is another major step in the execution of our long-range plan," said Doug Foshee, president and chief executive officer, in a press release. "With the net proceeds from this transaction, we will have announced or sold approximately $636 million of petroleum assets since Dec. 1, the $500-million to $600-million target established in our plan." -
Valero to receive 1.5M barrels from U.S. oil reserve
After Katrina.... -
Valero Energy closes acquisition of Premcor 8B or (600M)
it's closed its acquisition of Premcor Inc. The completion of the transaction comes four months ahead of Valero's original expectations, and it now expects the deal to add to earnings "that much sooner." The combined entity is now the largest refining company in North America. "2005 is clearly going to be another record year for Valero and the outlook for 2006 is even better, particularly when you consider the contribution of the Premcor assets, -
Refinery Knocked off-line by Katrina
Chairman and CEO William Greehey told CNBC television that he expects the company's St. Charles, La. refinery to be back in operation by the end of next week. The refinery, with a processing capacity of 185,000 barrels per day, is one of eight major refineries along the U.S. Gulf Coast still shut after Hurricane Katrina struck the region early Monday. The company had initially estimated it would take two weeks to bring the plant back on line. Greehey said ensuring adequate crude oil supplies was -
Valero cooling towers hit by Rita
Valero Energy Corp. said an initial inspection of its Port Arthur, Tx. refinery has discovered significant damage to two cooling towers and a flare stack. -
Two workers die at Valero oil refinery
Two workers died early Sunday morning after an incident at a Valero Energy Corp. oil refinery in Delaware City, Del.
The workers were fatally injured after entering "a vessel that had a nitrogen atmosphere," said Mary Rose Brown, a company spokeswoman. The deaths were due to asphyxiation caused by nitrogen gas. -
Board approves added $2 bln buyback plan
Its board has authorized the repurchase of up to an additional $2 billion worth of its common stock. The company said it has bought back roughly 33 million shares so far this year at a cost of about $1.9 billion. Shares of the San Antonio, Texas-based oil and gas company closed Friday at $52.09, down 1.6% -
Record Quarterly Income after Sale of GP Holdings
Valero Energy Corp. said Tuesday third-quarter income jumped 86% to reach a new company record despite lower gasoline margins, bolstered by a pretax gain on the sale of its ownership stake in Valero GP Holdings and higher sales. -
17.9M Units Sold (Importance?)
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14 Hospitalized After Fire at McKee Refinery
No timeline for restarting Valero McKee refinery -
Boost Buyback to 6M, Profit up 30%
Strong refining margins and rising fuel demand pulled Valero Energy Corp's first-quarter earnings to a 30% higher profit, giving it enough cash flow to triple its stock buyback program, the company said Thursday. -
Sells Lima Refinery for $1.9B
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HSE.T, , ) has reached an agreement to acquire the refinery in Lima, Ohio from Valero Energy for $1.9 billion -
Record High Refining Margins, profit up 19%
Valero Energy Corp. rode near record-high refining margins to a 19% rise in second-quarter earnings, taking advantage of strong fuel prices during a period plagued by an unusually high number of refinery outages across the U.S. -
Agrees to $232 mln in pollution controls
$4.25M Penalty + $232M pollution controls to previously owned Premcor refineries -
Issues profit warning on crude prices - hurricanes didn't help
Valero, which is focused entirely on the refining and marketing industry, remains particularly vulnerable to high crude prices since its doesn't pump its own crude from the ground. -
Losers as $100 oil approaches
As crude-oil prices continue their assault on the century mark, no one needs to tell consumers what it all means. They feel it every time they pull up to a gas pump or order a load of heating oil for that cranky furnace in the basement. with little or no production of their own, the high price of crude is felt even more acutely. This is clear from their share prices. Valero stock is down 15% from its summer peak, and Sunoco is down 16% -
Net Income Falls 48% Due to Crude Price
Valero Energy Corp. rallied Tuesday after it said fourth-quarter net income fell a less-than-expected 48% as rising crude oil and other expenses bit into its refining margins. -
$3B Stock Buyback, 2.4B Refinery Expansion
board approved a new $3 billion share repurchase program and a $2.4 billion expansion of its refinery in Port Arthur, Texas. The expansion, which will boost the refinery's overall throughput capacity to 415,000 barrels a day, will involve the construction of a 50,000-barrel-per-day hydrocracker, a 45,000-barrel-per-day coker, and revamps and expansions of other units. Valero bought back $5.8 billion worth of its stock in 2007 and has $1 billion remaining under a previous plan. -
Net Income Down 67% due to high crude prices
Valero Energy Corp. on Tuesday said tight refining margins bit into its second-quarter results, with profit falling 67% as the cost of crude oil outpaced the price of gasoline. -
Explosion at Valero Plant
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Gas Leak Hospitalizes Workers
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VLO Stock Rises Due to Gasoline Shortage After IKE
NEW YORK (MarketWatch) - Refining stocks perked up Wednesday on a greater-than-expected dip in gasoline supplies in the wake of Hurricane Ike, even while crude futures reversed course and moved into the red. Crude inventories fell 1.5 million barrels to 290.2 million barrels in the week ended Sept. 19. Gasoline supplies fell by 5.9 million barrels, greater than the 5.1 million barrels forecasted by analysts surveyed by Platts. -
Sells Refinery to Suncor for $30M