17.59%F 2.69 25.12%SPY 90.09 1.26%
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HOUSTON - Shares of Valero Energy Corp. fell Friday as the refiner said it had shut down a heavy oil cracker at its refinery in Corpus Christi, Texas, after a small pump fire.
| VLO | 18.35 |  -0.01 |
Shares of Valero, North America's largest refiner, fell 29 cents to $33.38 Friday. They fell as low as $32.03 earlier in the session.
The San Antonio-based company said the fire occurred Thursday and it had taken down the cracker for repairs--an outage that's expected to last for seven to 10 days.
As such, gasoline production will be reduced by about 80,000 barrels a day. Distillates output will be reduced by 7,500 barrels a day.
The company also said Thursday that it was restarting its refinery in St. Charles, La., after a being shut down by Hurricane Gustav. Valero said it would be Sunday or early next week before the St. Charles plant can process significant amounts of oil.
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