Valero, Marathon Report Earnings Surge
From the Associated Press
Valero Energy Corp. more than doubled its second-quarter profit, benefiting from high pump prices and its expertise at turning lower-quality crude oil into gasoline and diesel.
It was the best quarterly profit for San Antonio-based Valero, the nation’s largest independent refiner, and executives said they expected even higher returns in the current quarter.
Marathon Oil Corp. of Houston credited soaring fuel prices as a major factor in the doubling of its second-quarter profit.
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