Valero To Shut Benicia Refinery After Failed State Talks
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Valero Energy announced plans to close its 145,000-barrel-a-day Benicia refinery in California by spring 2024 after unsuccessful talks with state officials. The company had previously indicated a wind-down by April 2026, incurring a $1.1 billion pre-tax impairment charge. Despite the closure, Valero intends to continue serving California fuel customers by importing supplies globally and is investing $230 million in upgrades at its St. Charles, Louisiana refinery, expected to enhance output of high-value products.
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