Valero says Q4 operating income down on $1.84/barrel cut in refining margin
Reports Q4 operating income $167M versus 4Q10 operating income of $378M. The decrease in operating income was mainly due to a decrease of $1.84 per barrel in the refining throughput margin, particularly in the Gulf Coast region where the throughput margin decreased by $4.21 per barrel. The decrease in the throughput margin was primarily due to lower margins for gasoline and petrochemical feedstocks plus reduced discounts for medium and heavy sour feedstocks. :theflyonthewall.com
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PetroChina to look at refinery, storage assets in Americas, China Daily says
Chinese energy giant PetroChina (PTR) plans to "focus" on storage and refinery assets in the Americas this year, according to China Daily. According to media reports, PetroChina has been in talks with Valero (VLO) about buying the latter company's refinery in Aruba, the newspaper reported. PetroChina Chairman Jian Jiemin said the project is something the company might look at, but added that he was unaware of any deal, China Daily said. Reference Link :theflyonthewall.com
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