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Shuttered US Refining Capacity Unlikely to Return: Valero

REFINING

US refineries shuttered in the last few years won’t return to production according to Valero Chief Executive Joe Gorder after a recent meeting with US Energy Secretary Jennifer Granholm.

  • “The one interesting thing that came out of it, too, was there was consideration for the ability to restart refining capacity that had been shut down,” Gorder said. “And I think the general sentiment was that wasn’t going to happen.”
  • US refined product stocks are historically low currently - driven by high export volumes, particularly towards Europe.

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