Valero’s refinery operations ran at near full capacity by the end of 2017, increasing quarterly output by 156,000 barrels per day. CEO Joe Gorder says the company has completed its recovery efforts following Hurricane Harvey, and that it performed “very well.” A 77% increase in profits on revenues of $88.4 billion appear to back that up. Valero experienced a significant increase in biofuel blending costs, but the expense is a relatively small part of the company’s overall operations.
Looking for leads, investment insights, or competitive intelligence?
News about Valero Energy
It was not clear if the water supply was ever contaminated by the spill.
"Gasoline is on the verge of trading under diesel... in JULY!!! That's insane," one trader said.
Valero Energy and Phillips 66 both say they are in 'max gasoline mode.'
But it will certainly make oil companies richer.