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Article: Valero Rationalizes Underperforming Operations to Improve Profitability.
- Article from:
- Energy Weekly News
- Article date:
- September 25, 2009
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Valero Energy Corporation (NYSE: VLO) announced that the company is continuing to take action to improve its profitability by rationalizing underperforming operations. As a result, the company's subsidiary, The Premcor Refining Group Inc., intends to shut down the coker and gasifier complex at the Delaware City refinery. The coker is expected to be idle at least until the outlook for coking economics improves, while the closure of the gasifier complex is for an indefinite period. The company also noted that the plant-wide shutdown of the Valero Aruba refinery is now expected to be for an extended period, and, as announced earlier this year, the shutdown of a coker and a ...