Valero Energy NEWS

U.S. refiner, Valero Energy Corp registered a jump in fourth-quarter profits on Thursday, easily beating Wall Street estimates. The refinery giant majorly earned from refining low-cost Canadian heavy crude, with refining margins in the U.S. Gulf Coast operations rising 16% to $1.64 billion. Despite a 3% drop in the revenue, net income attributable to the shareholders rose to $1.1 billion in the fourth quarter, up from $952 million.