18 March 2013 17:03 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--US exports of gasoline, diesel and other refined products have saved the refining industry from shutdowns and widespread layoffs, US Valero said on Monday.
Valero exports about 8% of its gasoline and 15-18% of its distillates, said Valero spokesman Bill Day.
“A vast majority of our products stay in the US,” he said. “What you see exported is the stuff we produce above demand for gasoline and diesel.”
Fuel exports have increased in recent years, as domestic demand for fuel has dipped.
“Our ability to make that surplus in the US keeps refineries working and refinery workers working,” Day added.
Day made his comments during the annual meeting of the American Fuel and Petrochemical Manufacturers in San Antonio, Texas. The meeting ends on 19 March.
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