Valero to Suncor Shun Overseas Imports at Eastern Canada Plants

By Christine Harvey May 2 (Bloomberg) -- Suncor Energy Inc. and Valero Energy Corp. are poised to use only North American crude in eastern Canada by 2015, helping to displace overseas imports. Suncor’s Montreal refinery will reach that point in 2015 and Valero’s Quebec City plant by the end of this year, the companies said April 29. Imports to Quebec, Ontario and Atlantic … [Read more...]

Neste Oil and Concordia Sell Panamaxes to New Canadian Shipping Firm

Scandinavian tanker owners, Concordia Maritime and Neste Oil have reached an agreement to sell a pair of  jointly-owned, 2007-built Ice Class 1A panamax tankers, Stena Poseidon and Palva to the recently incorporated tanker company, Transport Maritime St-Laurent Inc. The largest shareholder in this new shipping company is Valero, which owns a 230,000-barrel-per-day refinery  … [Read more...]

Cheaper Crude And Fuel Exports Help U.S. Refiners’ Profits

By Kristen Hays and Anna Driver HOUSTON, Jan 29 (Reuters) - Marathon Petroleum Corp, Valero Energy Corp and Phillips 66, the three largest U.S. independent refiners, reported quarterly results on Wednesday that topped Wall Street estimates as cheaper crude prices and rising exports helped profits. Sour crudes from Mexico, Saudi Arabia, Texas and the U.S. Gulf of Mexico … [Read more...]