Valero profit jumps on strong refining margins

Tue Jan 29, 2013 7:56am EST
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Jan 29 (Reuters) - Crude oil refiner Valero Energy Corp reported a jump in fourth-quarter profit as margins improved due to cheaper domestic crude oil.

Profit rose to $1.0 billion, or $1.82 per share, from $45 million, or 8 cents per share, a year earlier.

Revenue at the largest U.S. independent refiner was flat at $34.7 billion.