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Valero appoints new CFO

June 26/2020

MOSCOW (MRC) -- Valero Energy appoints current Executive VP and General Counsel Jason Fraser as its new Executive VP and CFO, effective July 15, according to Seeking Alpha.

Fraser will succeed Donna Titzman, who will retire after serving as CFO since 2018; she joined the company in 1986.

Fraser joined Valero in 1999 and has been General Counsel since January 2019.

As MRC reported earlier, Valero Energy Corps Memphis, Tennessee, crude oil refinery is operating at two-thirds of its 180,000 barrel-per-day (bpd) capacity because of low demand in the COVID-19 pandemic. The Memphis refinery cut production by as much as 50% in early April and has been raising production gradually since then.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 721,290 tonnes in the first four month of 2020, up by 4% year on year. Low density polyethylene (LDPE) and linear low density polyethylene (LLDPE) shipments grew partially because of the increased capacity utilisation at ZapSibNeftekhim.  At the same time, PP shipments to the Russian market totalled 347,440 tonnes in January-April 2020 (calculated by the formula production minus export plus import). Supply exclusively of PP random copolymer increased.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, LLDPE, crude and gaz condensate, PP random copolymer, propylene, LDPE, ethylene, petrochemistry, Valero, Rossiya, USA.
Category:General News
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