The email below from Bill Klesse who serves as Chairman of the Board, Chief Executive Officer, and President of Valero Energy Corporation, says it all.

From: Klesse, Bill
Sent: Monday, March 19, 2012 7:01 AM
Subject: Aruba to Suspend Refining Operations

Date: March 19, 2012

To: All U.S., Canada, U.K. and Ireland Employees

From: Bill Klesse

Re: Aruba to Suspend Refining Operations

Today, we are announcing that due to unfavorable refining economics and the outlook for continued unfavorable refining economics, we will suspend operations by the end of the month at our Aruba refinery. The refinery has been operating at reduced rates because of inadequate margins resulting in financial losses.

Over the past two years, we have thoroughly evaluated all of our alternatives for the refinery, and we are now considering the possibility of operating a terminal and storage operation at the site. For the immediate future, we will maintain the refinery in a state that would allow a restart.

This is a very difficult decision for us and our Valero employees in Aruba. We appreciate their hard work and dedication. We also expressed our thanks and appreciation for the diligent and incredible efforts of Prime Minister Eman and his government in helping Valero find an economic alternative that would allow continued operation of the refinery. Our discussions with interested parties, including those facilitated by the government of Aruba, will continue.

Our people in Aruba have our thanks and appreciation for all their efforts.

This information comes from the Valero web site.
Bill Klesse
Chairman of the Board, CEO and President

Bill Klesse serves as Chairman of the Board, Chief Executive Officer, and President of Valero Energy Corporation.

Klesse began his 40-year career in refining as an engineering trainee with Diamond Shamrock before accepting a position as a junior process engineer at the McKee refinery. He quickly rose to various managerial positions in engineering, petrochemical feedstocks, planning and development and marketing before being named Vice President of Logistics and Strategy of an R&M unit in 1982. In 1984, he was named Director of Corporate Development at Diamond Shamrock's Dallas office and, subsequently, Vice President. In 1987 he relocated to Diamond Shamrock's San Antonio office as an Executive Vice President. After the 1996 merger of Ultramar Corp. and Diamond Shamrock, forming Ultramar Diamond Shamrock (UDS), Klesse served as Executive Vice President of the company’s refining operations.

After Valero acquired UDS in 2001, Klesse served as Executive Vice President of Refining and Commercial Operations. In 2003, he was named Valero’s Executive Vice President and Chief Operating Officer. In 2006, Klesse became CEO, and in 2007, Chairman of the Board.

Klesse holds a Bachelor of Science degree in chemical engineering from the University of Dayton, and a Master of Business Administration degree in finance from West Texas A&M University.