Mid-Continent Refining Keeps Profiting
Jan 29th 2013 6:30PM
Updated Jan 29th 2013 7:25PM
Valero Energy punctuated a fantastic 2012 with a remarkable fourth quarter, trouncing analyst estimates with a non-GAAP EPS of $1.88 and operating income of $1.6 billion. The outstanding performance was the result of the firm securing discounted crude for all of its refineries in addition to selling its refined product into high margin areas. With the Seaway Pipeline now reversed, worries arise that Valero's competitive advantage will wane, but Valero has taken steps to secure the cheap feedstock for the long term. Check out the video below for more information on Valero's quarter and what to expect from mid-continent refiners in the near term.
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The article Mid-Continent Refining Keeps Profiting originally appeared on Fool.com.Joel South has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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