Valero CEO: Low Oil Prices Encourage Global Fuel Demand
Joe Gorder (Photo: Valero)
Valero Energy Corp Chairman and Chief Executive Joe Gorder said on Wednesday low oil prices are encouraging continued global demand for refined products like motor fuels gasoline and diesel.
Speaking at a Houston energy conference, Gorder said many of the company's refineries could run more light sweet crude oil but the downward global price pressure on oil is making all crude grades attractive.
Gorder, who leads the nation's largest refiner, said gaining a permit for a project to offload crude delivered by rail at a California refinery is difficult but the company will keep trying.
(Reporting by Terry Wade and Catherine Ngai; Editing by Chizu Nomiyama)
