NYSE:VLOOil and Gas
Valero’s Venezuelan Crude Imports Add Twist To Refining Margin Story
Valero Energy (NYSE:VLO) has arranged to import up to 6.5 million barrels of Venezuelan crude oil.
The company is working with three sellers that are currently authorized under updated U.S. sanctions rules.
This move follows recent changes in U.S. policy toward Venezuela that allow select crude shipments to U.S. refiners.
Valero Energy, trading at around $200.17 per share, has seen substantial share price appreciation, with gains of 21.1% year to date and 52.3% over the past year. The...