Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (70685)	9/29/2006 9:02:47 PM
From: KyrosL	Read Replies (1) \| Respond to of 110194

Where do you get the current Maya crude oil price?

To: Wyätt Gwyön who wrote (70685)	10/3/2006 4:48:38 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 110194

Valero Energy Corp. (ticker: VLO, exchange: New York Stock Exchange (.N)) News Release - 10/3/2006 Valero Energy Corporation Expects to Report Record Third Quarter Earnings SAN ANTONIO--(BUSINESS WIRE)--Oct. 3, 2006--Valero Energy Corporation (NYSE:VLO) announced today that it expects to report third quarter earnings in the range of $2.25 to $2.35 per share. Earnings in this range would represent the highest third quarter earnings in the company's history. The company also noted that its third quarter estimate excludes the $132 million pre-tax gain on the sale of approximately 40 percent of the company's ownership interest in Valero, L.P. on July 19, 2006. "Despite the recent weakness in gasoline margins, distillate margins and sour crude discounts remain very good," said Bill Klesse, Valero's Chief Executive Officer. "The seasonal fall in gasoline margins was more severe than we had expected. However, we believe that with the commencement of fall maintenance in both the U.S. and Europe, and with the falling retail pump prices supporting continued strong gasoline demand, the picture for gasoline margins is improving." "During the third quarter, we also purchased another ten million shares under our previously announced share repurchase program. Year to date, we have returned approximately $1.8 billion to stockholders through the purchase of 31 million shares, representing nearly five percent of our outstanding shares," said Klesse. Valero's senior management will hold a conference call at 11 a.m. ET (10 a.m. CT) October 31, 2006 to discuss third quarter earnings, which will be released earlier that day, and provide an update on company operations. A live broadcast of the conference call will be available on the company's website at www.valero.com. Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and annual revenues of more than $80 billion. The company owns and operates 18 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.3 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation's largest retail operators with more than 5,000 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. Please visit www.valero.com for more information. Statements contained in this release that state the company's or management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words "believe," "expect," "should," "estimates," and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see Valero's annual reports on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission and on Valero's website at www.valero.com. CONTACT: Valero Energy Corporation, San Antonio Investors, Eric Fisher, Vice President, Investor Relations: 210-345-2896 or Media, Mary Rose Brown, Senior Vice President, Corporate Communications: 210-345-2314 Website: valero.com SOURCE: Valero Energy Corporation