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Valero to build new alkylation unit in Houston
HOUSTON, January 29, 2016 (PCW) -– Valero on Thursday said it would build a 13,000 b/d alkylation unit at its Houston refinery that would begin service in the first half of 2019.
The estimated cost for the unit is $300 million.
The San Antonio-based company reported 4Q net earnings of $862 million, down about 9.5% from the year-ago period. The decrease was largely due to lower earnings from its ethanol segment which saw operating income in the fourth quarter of $37 million, down from $154 million in 4Q 2014. This reduction was due to lower ethanol prices. –- Samantha Hartke