for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Energy

UPDATE 1-Valero says runs cut at SF-Bay refinery on margins

(Adds CEO comment, gasoline demand in second half of ‘07)

HOUSTON, Jan 29 (Reuters) - Valero Energy Corp VLO.N said on Tuesday throughput was cut at its 144,000-barrel-per-day (bpd) San Francisco Bay-area refinery in Benicia, California, due to declining refining margins.

“As we await spring and summer demands we have reduced operating rates at our Benicia refinery to contain inventories,” the company said.

The company also saw a drop in gasoline demand during the second half of 2007.

“We have actually seen a decline in gasoline demand in California,” said Valero Chairman and Chief Executive Bill Klesse. (Reporting by Erwin Seba; Editing by Christian Wiessner)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up