Valero cuts rates at Texas refineries due to storm

05 August 2008 16:33  [Source: ICIS news]

HOUSTON (ICIS news)--US refiner Valero has reduced rates slightly at its Texas refineries in Port Arthur, Texas City and Houston - due to rain and high winds caused by tropical storm Edouard, the company said on Tuesday.

In addition, feedstock supply in Texas City is tight due to port closures, Valero said.

Nonetheless, Valero does not expect production to be materially affected at any of its refineries as a result of the storm.

Edouard has already made landfall, and it has weakened as a result, according to the National Hurricane Center.

As such, the centre has suspended its hurricane warning, although a tropical-storm warning remains in effect for parts of Texas and Louisiana.

The storm was now 40 miles west of Port Arthur, the centre said. 

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By: Al Greenwood
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