Economic Recession Forces Older Refineries to Permanently Shut Down

SUGAR LAND--December 2, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Petroleum companies have decided to indefinitely idle three refineries with combined capacities of 358,000 barrels per day (BBL/d) because of poor market conditions. Two of the refineries ceased operations in the fourth quarter of this year, while the third will reluctantly close its doors by the end of the first quarter of 2010. Sunoco Incorporated (NYSE:SUN) (Philadelphia, Pennsylvania) and Valero Energy Corporation (NYSE:VLO) (San Antonio, Texas) have closed refineries, while Western Refining Incorporated (NYSE:WNR) (El Paso, Texas) will close a refinery in New Mexico early next year.