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Strategies & Market Trends : Natural Resource Stocks

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From: JimisJim	7/17/2006 12:15:23 PM
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DoD awards Valero contract to ship jet fuel to Israel Monday July 17, 12:05 pm ET The Department of Defense has awarded Valero Energy Corp. a $36.8 million contract to supply military-grade jet fuel to the government of Israel -- the United States' key ally in the Middle East. For the last six days, Israel and elements of Hezbollah based in southern Lebanon have been embroiled in intense fighting after two Israeli soldiers were taken captive by the militant Islamist group, according to news reports. Israel has launched a series of ground and aerial attacks in southern Lebanon in response to the Hezbollah incursion. Valero (NYSE: VLO - News) is shipping the JP8 (jet-propulsion 8) fuel from the company's Corpus Christi refinery. The San Antonio-based oil refiner will supply the jet fuel to Israel until Jan. 30, 2007, according to the Defense Energy Support Center at Fort Belvoir, Va. The center coordinates bulk fuel purchases for the U.S. military and its military allies. Published July 17, 2006 by the San Antonio Business Journal

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