Valero increased frst-quarter throughputs and widened refn- ing margins from a year earlier, leaving the company optimistic on refning fundamentals for the rest of the year. Valero’s 10 refneries ran at a combined throughput of 2.8mn b/d in the frst quarter, up from 2.4mn b/d a year earlier and exceeding the company’s January guidance for 2.67mn-2.78mn b/d. Valero expects second-quarter through- puts will total 2.7mn-2.815mn b/d, down from 2.835mn b/d in the same period last year.
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