Valero to close part of Delaware refinery

SAN ANTONIO, Texas - September 8, 2009 The San Antonio, Texas-based company on Tuesday blamed the recession for the unprofitable performance of the coker and gasifier complex at the Delaware City refinery.

The coker operation will be closed until economics improve. Valero said the gasifier complex will be closed indefinitely.

Valero, the nation's largest independent refiner, in July said it could lose money for the rest of the year if the weak economy persists.

Shares of Valero rose 47 cents, or 2.6 percent, to $18.83 a share in late morning trading.

More money-related links:
Copyright © 2023 WPVI-TV. All Rights Reserved.