VALERO ENERGY CORPORATION

Valero Energy Corp. (NYSE: VLO) said it has agreed to acquire Chevron Corp. (NYSE: CVX)'s Pembroke oil refinery in Wales, U.K., as part of a deal valued at up to $1.73 billion.

Valero Energy Corp , the top independent U.S. refiner, is working to sell its remaining plants on the U.S. East Coast and in the Caribbean, the Wall Street Journal said.

Giant oil company Chevron Corp plans to restructure its refinery operations, cutting some jobs and exiting some markets, a company spokesman said on Tuesday.

Australian biodiesel company Mission NewEnergy has signed a five-year deal with Valero Energy Corp to supply up to 200,000 tonnes of biodiesel a year, potentially worth up to $3.5 billion.

No major new refineries have been built in the United States since the 1970s, but that does not mean that U.S. refinery capacity has not grown. Refiners can increase capacity at existing sites by modifying equipment to increase product flow and by adding new distillation units. Consequently, though U.S. crude oil distillation capacity declined in the early 1980s, it has risen since the mid-1990s (Figure 1) due to these kinds of investments. From 1997 to 2009, total U.S. refining capacity increas...

Valero Energy Corp reported a deeper-than-expected quarterly loss on Tuesday as weak fuel demand in the slow economy weighed on results for the largest U.S. refiner.

Gains in cash crudes due to economic factors early in the week are expected to be limited by continuing lower demand from refiners, who are still contending with reduced demand and seeing a weak outlook for the coming year.

Valero Energy Corp said on Thursday that it is still assessing a hydrocracker that was shut earlier this week at its oil refinery in Corpus Christi, Texas, following a small fire.

Valero Energy Corp said a small fire was quickly extinguished on Monday morning at its 100,000 barrel per day (bpd) Three Rivers, Texas, refinery, which is currently shut for a planned overhaul.

U.S. refiners said operations were normal at refineries in Texas and Louisiana on Friday morning as they monitored a storm system in the western Gulf of Mexico that has a low chance of becoming a tropical cyclone.

A climate bill in the U.S. Senate would cost leading U.S. refinery Valero Energy Corp between $6 billion and $7 billion per year in its current form, the company's CEO said on Wednesday.

The U.S. climate bill would cost Valero, the country's largest oil refiner, more annually than it has ever made in a year, forcing it to warn consumers at filling stations that fuel prices will rise, the company's top government affairs official said.

China and the United States signed a memorandum promising greater cooperation in tacking climate chaneg, energy and the environment. BP Plc and Valero Energy Corp. reported earnings for the second quarter reflecting the economic downturn has hit hard the oil industry.

Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, said Tuesday that the federal agency must seriously consider setting strict position limits in the energy markets.

Valero Energy Corp. chief executive officer Bill Klesse hopes the Waxman-Markey bill, which includes a proposal to enact a cap-and-trade system in the country, is eventually defeated when it gets into the U.S. Senate, he said Tuesday.

Home sales jump, Dow Breaks 9,000, Ford Turns Profit

Solar maker First Solar Inc. and EDF Energies Nouvelles announced they will build the largest solar panel manufacturing plant in France.U.S. stockpiles of natural gas rose 66 billion cubic feet to 2.952 trillion cubic feet on the week ended July 17.

Valero Energy Corp said Monday a gasoline-producing fluidic catalytic cracking unit at its 287,000 barrel-per-day Port Arthur, Texas refinery was back at planned rates following a Friday malfunction.

Oil prices rose slightly on Thursday as talk of refinery shutdowns spurred stirred gasoline supply concerns, ending a six-day slide.

Oil and gas stocks plunged at the opening of trade today pulled lower by Valero Energy Corp.’s announcement yesterday that is expecting a net loss of 50 cents per share for the second quarter of 2009.

The largest chemical maker in the US, Dow Chemical on Wednesday said it will sell another $900 million strategic assets from its Calcium Chloride unit for $210 million to pay down its debt on its Rohm and Haas acquisition of $16.4 billion.