New York-Big US refiner Valero Energy sees good demand going forward as it moves to cash in on a shorter-term phenomenon in the feedstock market, officials said January 26. Their comments came as Valero announced fourth-quarter 2010 income from continuing operations of $180 million ($0.32/ share), compared to a loss of $131 million ($0.23/share) a year earlier, on better margins for gasoline and diesel, along with bigger discounts on heavy-sour crude.
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