Valero reports record ethanol income
In Texas, Valero’s 2011 fourth quarter and annual reports states that their ethanol segment reported its highest quarter ever with $181 million in operating income, versus $70 million in the fourth quarter of 2010. The increase in ethanol operating income was mainly due to higher gross margins and an increase in production volumes to a record-high quarterly average of 3.5 million gallons per day.
The ethanol segment also set an annual record with $396 million in operating income in 2011.
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