Valero

Eileen Pace / TPR News

San Antonio-based Valero Energy is reporting a 28 percent increase in its fourth quarter earnings, and officials say the nation’s oil industry is healthier as a whole now that the recession is coming to an end. 

Valero Wednesday reported an increase of $1.3 billion dollars over the fourth quarter earnings of 2012. 

Vice-President of Media and Community Relations Bill Day said the company is starting to see steady increases now, in part due to the end of the recession.

Eileen Pace / TPR

*The original post of this story misspelled CST Brands CEO Kim Bowers as Karen Bower. The correction is now reflected in the copy.

Valero is spinning off its retail operation under the new name CST Brands, Inc. for all of its 1,900 stores across the U.S. and Canada.

CST Brands CEO Karen Bower Kim Bowers said the new company comes to the market as a Fortune 220 Company, a good deal for the shareholders.