HOUSTON May 1 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.