Valero's net profit halves as refining margins shrink
Oct 29 (Reuters) - U.S. Gulf Coast refiner Valero Energy Corp's third-quarter net profit more than halved due to lower refining margins and higher costs to comply with U.S. renewable fuel regulations.
Net profit fell to $312 million, or 57 cents per share, from $674 million, or $1.21 per share, a year earlier.
Operating income fell to $532 million from $1.3 billion.
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