Valero 2004 Annual Report Download - page 12
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Please find page 12 of the 2004 Valero annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.1 0
Va l e r o E n e r g y C o r p or a t i o n
s u m m a r y a n n u a l r e p o r t
1 0
Va l e r o E n e r g y C o r p or a t i o n
s u m m a r y a n n u a l r e p o r t
SUPERIOROPERATIONS,SPECTACULARRESULTS
,ExecutiveVicePresident&ChiefOperating
Officer,and,SeniorVicePresident
ofRefineryOperations,(lefttoright)overseeValero’s
extensiveandcomplexrefiningoperations.Withthe
company’scommitmenttomakingstrategicinvestments,
operationalimprovementsandrefineryupgrades,it’sno
surprisethatValeroisoneofthemostprofitablerefiners
inNorthAmerica.
In1997,Valero’splanwastoacquirerefineriesat
deepdiscountstoreplacementcostsandmake
strategicinvestmentsinthesedistressedassetsthat
wouldimproveyields,reduceoperatingcostsand
maketheserefineriesmoreprofitablebyoptimizing
theirabilitytoprocesslesscostlysourcrudeoils.