July 25, 2019 / 10:43 AM / 25 days ago

Valero Energy profit falls 32% on higher heavy crude prices

July 25 (Reuters) - Valero Energy Corp reported a 32.2% drop in quarterly profit on Thursday, as the independent U.S. refiner’s margins were hit by higher heavy crude prices.

Adjusted net income attributable to Valero stockholders fell to $629 million, or $1.51 per share, in the second quarter ended June 30, from $928 million, or $2.15 per share, a year earlier.

The San Antonio, Texas-based company said its refining margins fell to $2.58 billion from $2.93 billion. (Reporting by Debroop Roy in Bengaluru; Editing by Shinjini Ganguli)

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