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VOL. 126 | NO. 162 | Friday, August 19, 2011

Valero Restarting Refinery Units After Fire

AP

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SAN ANTONIO (AP) Valero Energy Corp. on Thursday said it is in the process of restarting units at its Memphis refinery, which was shut down after a fire on Aug. 5. It warned the shutdown will lead to lower production and higher costs.

The restart is under way at one crude distillation unit. Another is expected to restart by September.

Because of the disruption, Valero lowered its production expectations in the third quarter for its mid-continent region. It now expects to produce 370,000 to 380,000 barrels per day in the region, down from an original estimate of 420,000 to 430,000 barrels per day.

Valero now expects its system-wide refinery operating expenses to be $4.05 per barrel in the third quarter, above its previous estimate of $3.80 per barrel.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 128 128 17,998
MORTGAGES 155 155 20,990
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 149 149 36,765
BANKRUPTCIES 60 60 11,985
BUSINESS LICENSES 19 19 5,696
UTILITY CONNECTIONS 49 49 12,297
MARRIAGE LICENSES 40 40 4,518

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