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Published
by the Corpus Christi Caller-Times. CLICK FOR NEWSPAPER DELIVERY
Wednesday, September 26, 2001
Valero gets $142 million contract to produce jet fuel for military
San Antonio-based Valero Energy Corp. announced Wednesday it has been awarded two contracts worth $142.3 million to produce jet fuel for the U.S. military.
Valero, which operate two Corpus Christi refineries, will produce the jet fuel at its Texas City and Benicia, Calif., refineries.
"These contracts come at a time when commercial jet fuel consumers have announced cutbacks," said Bill Greehey, Valero's chairman and chief executive officer.
With the contracts, Valero in the past three years has tripled the amount of fuel it produces for the military, from 7,000 barrels per day to 21,000 barrels per day, Greehey said.
Valero beat out 31 companies who submitted proposals for the contracts to the military.
The one-year contracts begin Oct. 1 and expire September next year.
Valero Energy Corp. has 3,500 employees and annual revenues of $15 billion.
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