Valero’s profit falls on lower US refining margins
1/28/2016 12:00:00 AM
US refiner Valero Energy reported a 74% decline in quarterly profit on Thursday, hurt partly by lower refining margins.
Net income attributable to Valero's stockholders fell to $298 million, or 62 cents/share, for the fourth quarter ended Dec. 31, from $1.16 billion, or $2.22/share, a year earlier.
Operating revenue fell 33 percent to $18.78 billion.
(Reporting by Amrutha Gayathri in Bengaluru; Editing by Saumyadeb Chakrabarty)
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