Valero Energy Corp. (VLO) said that, on November 3, an arbitration panel in the Netherlands handed down an interim decision on certain issues in dispute between the company and the Government of Aruba. The panel ruled favorably on Valero's existing exemption from income tax liability for refining operations through 2010. Valero had not recognized any expense or liability with respect to the matters in its consolidated financial statements. Due to the uncertain timing of the panel's final ruling, the company has recorded a loss contingency accrual of approximately $140 million or $0.25 per share, in its financial results for the quarter ended September 30, 2009.
The company updated its third quarter results and reported a loss of $629 million or $1.12 per share, compared to a profit of $1.15 billion or $2.18 per share in the previous year period. Operating revenues for the quarter were $19.5 billion, compared to $35.9 billion in the year-ago period.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.