Valero Experiences Most Profitable Year Yet

Breaks earnings records in 2011.

Valero Energy Corp., based in San Antonio, Texas, reported its highest full-year earnings since 2008, as the retail segment boasted its most profitable year in the company’s history, the ethanol segment saw its most profitable quarter, and two major acquisitions strengthened the company’s global position, according to statistics from Industrial Info Resources, a provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets.

Valero reported $45 million in net income for the quarter, compared with a net loss of $438 million in fourth-quarter 2010, and $2.09 billion in net income for the year, compared with a $324 million gain in 2010.

Industrial Info Resources is tracking more than $5.8 billion in active Valero projects, including two hydrocracker unit additions at major refineries that are valued at $1 billion each.

 

 

 

 

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