Valero Energy has postponed $1.7 billion in projects until 2012 at its refinery in St. Charles. Delayed projects comprise of an upgrade of a catalytic cracker and addition of a hydrocracker at the refinery, which can process 250,000 barrels a day, according to data compiled by Bloomberg.
“Valero Energy has postponed several capital projects in order to free up cash on our balance sheet,” Valero Energy spokesman, Bill Day said in an e-mail.
The company on April 28, 2009 said it rescheduled the St. Charles crude unit and coker expansion to the first quarter of 2010 from the fourth quarter of 2009. It also shelved the $225 million overhaul of a catalytic cracker at the plant that would have increased output by 5%.
