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Valero tops profit estimates in strong start to U.S. refiner earnings

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Refiner Valero Energy (VLO.N) beat analysts' estimates for third-quarter profit on Thursday, powered by sustained fuel and refined products demand against the backdrop of tight supplies.

The logo for Valero Energy Corporation is shown at a Valero gas station in Encinitas, California, U.S., May 2, 2016. REUTERS/Mike Blake/File Photobeat analysts' estimates for third-quarter profit on Thursday, powered by sustained fuel and refined products demand against the backdrop of tight supplies.

"Our refineries operated well and achieved 95 percent throughput capacity utilization . . . Product demand remained strong in our U.S. wholesale system," CEO Lane Riggs said in a statement. The renewable diesel segment sales volumes averaged 3 million gallons per day, 761,000 gallons per day higher than a year earlier.

 

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