Valero to consider strategic options for refineries amid downturn

10/8/2009 | Reuters

Valero is open to "strategic alternatives" including unit or refinery shutdowns to cope with slowing demand amid the economic recession, company spokesman Bill Day said. This comes after Sunoco, another independent refiner, started closing down its refinery in Philadelphia. Bill Klesse, Valero's chairman and CEO, sent a memo to staff this week stating that the company is examining options for facilities in areas including Paulsboro, N.J., and Delaware City, Del., sources said.

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