MOSCOW (MRC) -- Valero Energy Corp, the largest U.S. oil refiner, reported a 38.4 percent fall in quarterly profit, hurt by weak margins in its core refining business, said Reuters.
The company said on Tuesday that its net income attributable to shareholders fell to USD305 million, or 68 cents per share, in the first quarter ended March 31, from USD495 million, or USD1.05 per share, a year earlier.
Operating revenue rose 38.6 percent to USD21.77 billion.
As MRC informed earlier, Valero Energy Partners’ (the Partnership) board of directors of its general partner has approved the Partnership’s acquisition of the Meraux and Three Rivers Terminal Services Business from a subsidiary of Valero Energy Corp. (Valero) for total consideration of approximately USD325 M.
Valero Energy Corporation is a Fortune 500 international manufacturer and a marketer of transportation fuels, other petrochemical products, and power. It is based in San Antonio, Texas, United States. The company owns and operates 16 refineries throughout the United States, Canada, United Kingdom, and the Caribbean with a combined throughput capacity of approximately 3 million barrels (480,000 m3) per day, 10 ethanol plants with a combined production capacity of 1.2 billion US gallons (4,500,000 m3) per year, and a 50 megawatt wind farm.
MRC