July 30, 2014 / 12:01 PM / in 3 years

Valero second-quarter profit rises

July 30 (Reuters) - Valero Energy Corp, the largest U.S. independent refiner, on Wednesday reported an increase in quarterly profit as the company processed higher volumes of crude oil.

San Antonio-based Valero said second-quarter profit rose to $651 million, or $1.22 per share, from $463 million, or 84 cents, in the same period a year earlier.

Valero said on July 14 its second-quarter profit would be higher than a year earlier but would fall short of Wall Street expectations, hurt by seasonal weakness in its biggest Gulf Coast Market. (Reporting by Anna Driver; Editing by Jeffrey Benkoe)

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