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<p>I think something at the Shell refinery just exploded. There was some kind of pressure wave that hit our house (here in Destrehan). I thought it was a strong gust of wind at first, but now it seems like there's an enourmous fire burning in that direction. I can hear a low roar when I go outside, and there's a orange glow in the sky in that direction.</p>

Valero earnings soar on margins NEW YORK (Reuters) - Leading U.S. refiner Valero Energy Corp. on Tuesday said earnings soared 59 percent in the first quarter as refining margins remained strong. The San Antonio, Texas-based company said net income was $849 million, or $1.32 per share, compared with $534 million, or 96 cents, a year ago. Wall Street analysts, on average, had forecast earnings per share of $1.25, according to Reuters Estimates. Revenue rose to $20.9 billion from $14.9 billion. Valero said the first quarter was marked by stronger gasoline and distillate margins and higher throughput volumes from the acquisition...

When Archbishop José Gomez asked retired Valero Energy Corp. President Edward Benninger who could help the Archdiocese of San Antonio streamline its budget, Benninger gave him three names. "Edward Benninger" was on the list. The archbishop Friday tabbed Benninger to fill the newly created job of vice chancellor for administration. Benninger will be looking for ways to bring modern business practices to the work of the archdiocese starting Monday. "There are always ways to do thing better," Benninger said. "If you look hard at any operation, you see ways you make it more efficient." There's plenty to put a pencil...

SAN ANTONIO (Reuters) - Valero Energy Corp. (VLO.N: Quote, Profile, Research) Chairman and Chief Executive Bill Greehey said Hurricane Rita's impact on U.S. crude oil production and refining could be a "national disaster." "If it hits the refineries, and we're short refining capacity, you're going to see gasoline prices well over $3.00 a gallon at the pump," Greehey said in a Tuesday night interview. Valero became the largest U.S. refiner earlier this year when it completed the purchase of Premcor Inc. Valero operates refineries in Port Arthur, Houston, Texas City and Corpus Christi, Texas -- all potentially in the path...

You don't expect tears from a group of hard-bitten oil executives, but there they were. Jonathan Stuart, the plant manager for Valero's St. Charles oil refinery, near New Orleans, was briefing a delegation from the company's San Antonio headquarters-including CEO Bill Greehey-on how the plant and its 50-man "ride-out" crew had fared during Hurricane Katrina. And he began to cry. Explaining how one maintenance supervisor had used his personal credit card to buy supplies the day before the storm hit and then stayed up night and day cooking gumbo for the crew during its aftermath, Stuart lost it. "Excuse me...

The story of Hurricane Katrina is first and foremost a tale of the wrath of Mother Nature and the resulting human misery: thousands of deaths, destroyed homes and businesses, family break-ups, psychological demoralization, and other hardships too painful to recount. But Katrina is also an economic story in terms of its impact on U.S. commerce, trade, energy, shipping, and overall growth. Here the doomsayers and pessimists are once again going to be proven wrong. This is not the 1970s. After more than twenty years of deregulation the U.S. economy is flexible and resilient -- even in the face of short-run...

http://news.myway.com/top/article/id/415877|top|07-19-2004::15:07|reuters.html Man Sought for Photographing Texas City Refineries Email this story Jul 19, 2:57 PM (ET) HOUSTON (Reuters) - Law enforcement officials said on Monday they are looking for a man seen taking pictures of two refineries in Texas City, Texas. Texas City, located on the Texas Gulf coast about 30 miles south of Houston, has three refineries including the largest U.S. plant operated by BP Plc., which is the third-largest U.S. refinery, processing 470,000 barrels of crude oil per day. The man, described as white with dark hair, was seen taking pictures outside the refineries, all located on the...