Valero Earnings Up, Continues Major Capital Projects

SUGAR LAND--February 1, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--In a conference call regarding its fourth-quarter 2016 net earnings, Valero Energy Corporation (NYSE:VLO) (San Antonio, Texas) said it had allocated $2.7 billion for capital investments in 2017, including turnarounds, catalyst and joint venture investments. "This consists of approximately $1.6 billion for sustaining and $1.1 billion for growth," said John Locke, Valero's vice president for investor relations, in the conference call. The company had a capital program of $2.6 billion in 2016. Industrial Info is tracking $2.13 billion in projects involving Valero.