9/19/2019, 6:53 PM (Source: TeleTrader)
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Valero reducing production in Texas refinery due to storm - report

Valero Energy Corp. is reportedly slashing production in its refinery in Port Arthur, Texas, due to storm, Reuters reported on Thursday.

The oil company announced on Monday it is planning to build the first renewable diesel refinery in Port Arthur together with Darling Ingredients, through their joint venture Diamond Green Diesel. The facility is "designed to produce 400 million gallons of renewable diesel annually as well as 40 million gallons of renewable naphtha," the statement from the company said.

A report from earlier in the day said that Exxon Mobil Corp. is also preparing to shut down its Beaumont Texas refinery because of flooding caused by Storm Imelda in August.

Breaking the News / NI