January 30, 2020 / 11:43 AM / 19 days ago

U.S. refiner Valero Energy profit rises 11%

Jan 30 (Reuters) - Valero Energy Corp reported an 11% rise in quarterly profit on Thursday, as the independent U.S. refiner benefited from refining more low-cost Canadian heavy crude.

Net income attributable to the shareholders rose to $1.1 billion, or $2.58 per share, in the fourth quarter ended Dec. 31, from $952 million, or $2.24 per share, a year earlier.

The San Antonio, Texas-based company said its refining margins fell nearly 1% to $3.03 billion in the quarter.

Reporting by Shradha Singh in Bengaluru; Editing by Vinay Dwivedi

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