Valero could run another 235,000 bpd of Eagle Ford crude -CEO
HOUSTON May 1 (Reuters) - Independent U.S. refiner Valero Energy Corp could run an additional 235,000 barrels per day (bpd) in light, sweet crude oil from the Eagle Ford formation in south Texas at its U.S. Gulf Coast refineries with little or no additional investment, Chief Executive Bill Klesse said on Tuesday.
The company expects the use of Eagle Ford crude won't be necessary with approval of construction of the Keystone XL pipeline to bring heavy, sour crude from Canada to the Gulf of Mexico sometime in 2013, Klesse said.
"We still believe Keystone will be built on Obama's timeline with approval in early 2013 and completion in 2014 or 2015," he said during a Tuesday morning conference call with Wall Street analysts to discuss first quarter results.
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