Valero Energy Corporation investing $2.7bn

Valero Energy Corporation is on track to invest $2.7bn in its infrastructure this year according to latest reports.

$1.1bn has been earmarked for company growth investments including the Diamond Green Diesel capacity expansion, the Houston alkylation unit, the Wilmington cogeneration plant and the Diamond Pipeline.

The remaining $1.6bn will be used to assist in sustaining business including turnarounds and catalyst in addition to Tier 3 gasoline compliance projects.

Valero Chairman, President and Chief Executive Officer, Joe Gorder said: “U.S. refined product inventories have declined and are within their five-year ranges. Demand for gasoline and distillate remains strong both domestically and internationally. Combined with expectations for continued sweet crude oil production growth and relatively low prices for crude and refined products, consumer demand should be robust this year.”

For more information visit www.valero.com

30th May 2017