Valero income ramps up after replacing oil imports

摘要

New York—Major US refiner Valero Energy replaced all its foreign light oil imports with domestic crude at its Gulf Coast and Memphis, Tennessee, plants during the fourth quarter of 2012 and has plans to run even more as its income jumps. Valero ran more than 700,000 b/d of domestic light sweet crude in Q4 and said that the discounts for those grades, as well as for medium sour and heavy sour crudes, led its quarterly operating income to jump to $1.6 billion— compared with $167 million a year earlier.