Valero to Shutter Some Refinery Operations, Cut Hundreds of Jobs
Valero Energy has continued its let’s-hunker-down-til-the-smoke-clears cost-cutting strategy with plans to cut back operations at a Delaware facility and extend its Aruba refinery shutdown. The reduced operations will mean at least 250 workers — both contract and Valero employees — will lose their jobs at the Delaware facility. More than 700 contract workers at the Aruba refinery will be released this month. Valero will close the coker and gasifier complex at the Delaware facility, which is part of its Premcor Refining Group subsidiary . The coker unit could eventually reopen, but the gasifier complex, which converts petroleum products to gas, will be closed indefinitely. Refiners have struggled in the wake of a recession that has sapped demand and squeezed its refining margins. And Valero, the largest U.S….
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