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Premcor turns its first profit in nearly a decade.(revenue increases)(Brief Article)(Statistical Data Included)
Revenue for 2000 jumps 61 percent to $7.3 billion
A surge in oil prices made 2000 a profitable year for Premcor Inc. -- its first in nearly a decade.
The St. Louis-based oil refiner, formerly known as Clark USA, had 2000 earnings of $89.7 million compared to a loss of $36.4 million in 1999.
The company's 2000 revenue was $7.3 billion, up 61 percent from $4.5 billion in 1999, making Premcor the largest private company in St. Louis based on gross 2000 revenue.
"The prime factor for our earnings increase is the price of oil," said Bill Rusnack, Premcor's president and chief executive.
A tight supply of oil boosted the price of …
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